Serve Robotics Inc. (NASDAQ:SERV - Get Free Report)'s share price rose 28.6% during trading on Thursday . The company traded as high as $17.90 and last traded at $17.68. Approximately 71,848,798 shares were traded during mid-day trading, an increase of 805% from the average daily volume of 7,942,673 shares. The stock had previously closed at $13.75.
Analysts Set New Price Targets
Several research firms recently issued reports on SERV. Singular Research raised Serve Robotics to a "moderate buy" rating in a research note on Tuesday, August 26th. Weiss Ratings reissued a "sell (d-)" rating on shares of Serve Robotics in a research note on Wednesday. Seaport Res Ptn downgraded Serve Robotics from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 11th. Finally, Wedbush assumed coverage on Serve Robotics in a research report on Wednesday, August 27th. They set an "outperform" rating and a $15.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $17.75.
Read Our Latest Analysis on SERV
Serve Robotics Price Performance
The company has a 50 day moving average of $11.41 and a 200-day moving average of $9.92. The company has a market capitalization of $1.06 billion, a P/E ratio of -15.37 and a beta of -0.70.
Serve Robotics (NASDAQ:SERV - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.13). The firm had revenue of $0.64 million for the quarter, compared to the consensus estimate of $0.63 million. Serve Robotics had a negative net margin of 3,726.00% and a negative return on equity of 36.47%. Research analysts predict that Serve Robotics Inc. will post -0.98 EPS for the current fiscal year.
Insider Buying and Selling at Serve Robotics
In other Serve Robotics news, CEO Ali Kashani sold 12,930 shares of Serve Robotics stock in a transaction that occurred on Tuesday, October 7th. The stock was sold at an average price of $15.08, for a total transaction of $194,984.40. Following the sale, the chief executive officer directly owned 3,421,072 shares of the company's stock, valued at approximately $51,589,765.76. The trade was a 0.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Touraj Parang sold 4,825 shares of Serve Robotics stock in a transaction that occurred on Tuesday, October 7th. The shares were sold at an average price of $15.25, for a total value of $73,581.25. Following the sale, the chief operating officer directly owned 1,360,591 shares in the company, valued at approximately $20,749,012.75. The trade was a 0.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 365,102 shares of company stock worth $4,134,977. Insiders own 5.50% of the company's stock.
Institutional Trading of Serve Robotics
Hedge funds have recently made changes to their positions in the stock. Exchange Traded Concepts LLC raised its holdings in Serve Robotics by 31.4% in the 1st quarter. Exchange Traded Concepts LLC now owns 882,522 shares of the company's stock worth $5,075,000 after acquiring an additional 210,977 shares during the last quarter. Capital Fund Management S.A. purchased a new stake in Serve Robotics during the 1st quarter valued at $4,244,000. Virtu Financial LLC raised its stake in Serve Robotics by 71.5% during the 1st quarter. Virtu Financial LLC now owns 59,054 shares of the company's stock valued at $340,000 after buying an additional 24,614 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Serve Robotics by 616.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 679,014 shares of the company's stock valued at $3,972,000 after buying an additional 584,302 shares during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in Serve Robotics during the 1st quarter valued at $2,064,000.
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.
See Also
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Serve Robotics, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Serve Robotics wasn't on the list.
While Serve Robotics currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of ten stocks that are set to soar in Fall 2025, despite the threat of tariffs and other economic uncertainty. These ten stocks are incredibly resilient and are likely to thrive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
