Serve Robotics Inc. (NASDAQ:SERV - Get Free Report) gapped up before the market opened on Friday . The stock had previously closed at $11.46, but opened at $11.88. Serve Robotics shares last traded at $12.75, with a volume of 3,025,489 shares.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on SERV. Northland Securities set a $23.00 price target on Serve Robotics in a report on Tuesday, February 18th. Cantor Fitzgerald initiated coverage on Serve Robotics in a report on Thursday, May 22nd. They issued an "overweight" rating for the company. Three analysts have rated the stock with a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Strong Buy" and an average price target of $18.67.
Check Out Our Latest Report on Serve Robotics
Serve Robotics Stock Performance
The company has a 50-day simple moving average of $7.95 and a 200-day simple moving average of $11.15. The company has a market cap of $716.58 million, a price-to-earnings ratio of -11.86 and a beta of 1.67.
Insiders Place Their Bets
In related news, CFO Brian Read sold 2,000 shares of the company's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $12.59, for a total value of $25,180.00. Following the sale, the chief financial officer now owns 217,705 shares in the company, valued at $2,740,905.95. This represents a 0.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last 90 days, insiders have sold 60,164 shares of company stock worth $480,378. Company insiders own 5.50% of the company's stock.
Institutional Investors Weigh In On Serve Robotics
Large investors have recently bought and sold shares of the stock. Uber Technologies Inc acquired a new stake in Serve Robotics during the 4th quarter valued at $71,534,000. Raymond James Financial Inc. acquired a new stake in Serve Robotics during the 4th quarter valued at $1,978,000. Man Group plc acquired a new stake in Serve Robotics during the 4th quarter valued at $467,000. Geode Capital Management LLC grew its holdings in Serve Robotics by 36.6% during the 4th quarter. Geode Capital Management LLC now owns 178,780 shares of the company's stock valued at $2,415,000 after buying an additional 47,927 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp acquired a new stake in Serve Robotics during the 4th quarter valued at $431,000.
Serve Robotics Company Profile
(
Get Free Report)
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.
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