Brokerages Set Serve Robotics Inc. (NASDAQ:SERV) Target Price at $19.50

Serve Robotics Inc. (NASDAQ:SERV - Get Free Report) has earned an average rating of "Strong Buy" from the five ratings firms that are presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a buy rating and three have issued a strong buy rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $19.50.

Separately, Northland Securities set a $23.00 target price on shares of Serve Robotics in a research note on Tuesday, February 18th.

Insider Transactions at Serve Robotics

In related news, CEO Ali Kashani sold 3,713 shares of the stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $9.21, for a total transaction of $34,196.73. Following the transaction, the chief executive officer now owns 3,225,852 shares of the company's stock, valued at approximately $29,710,096.92. This represents a 0.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 11,369 shares of company stock worth $90,704 over the last ninety days. Company insiders own 21.40% of the company's stock.

Institutional Trading of Serve Robotics

Institutional investors and hedge funds have recently bought and sold shares of the business. State Street Corp purchased a new stake in Serve Robotics during the 3rd quarter worth approximately $333,000. Geode Capital Management LLC boosted its holdings in Serve Robotics by 128.1% in the third quarter. Geode Capital Management LLC now owns 130,853 shares of the company's stock valued at $1,041,000 after purchasing an additional 73,496 shares during the period. Tidal Investments LLC acquired a new position in Serve Robotics during the 3rd quarter worth $262,000. Harbour Capital Advisors LLC raised its position in Serve Robotics by 102.4% in the 4th quarter. Harbour Capital Advisors LLC now owns 50,365 shares of the company's stock valued at $680,000 after purchasing an additional 25,475 shares in the last quarter. Finally, Atomi Financial Group Inc. acquired a new position in shares of Serve Robotics during the fourth quarter worth about $209,000.

Serve Robotics Stock Performance

Shares of NASDAQ SERV traded down $0.03 during trading on Friday, hitting $5.38. 489,522 shares of the company were exchanged, compared to its average volume of 8,679,318. The company has a fifty day moving average price of $8.78 and a 200-day moving average price of $11.24. The firm has a market capitalization of $306.22 million and a PE ratio of -4.50. Serve Robotics has a 12-month low of $1.77 and a 12-month high of $24.35.

Serve Robotics Company Profile

Serve Robotics Inc designs, develops, and operates low-emission robots that serve people in public spaces with food delivery in the United States. It builds self-driving delivery robots. The company was formerly known as Patricia Acquisition Corp. and changed its name to Serve Robotics Inc in July 2023.