Shares of Serve Robotics Inc. (NASDAQ:SERV - Get Free Report) traded down 2.8% on Monday . The company traded as low as $12.31 and last traded at $12.58. 2,671,894 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 10,047,053 shares. The stock had previously closed at $12.95.
Analyst Ratings Changes
SERV has been the topic of a number of analyst reports. Northland Securities set a $23.00 price objective on Serve Robotics in a research note on Tuesday, February 18th. Cantor Fitzgerald assumed coverage on shares of Serve Robotics in a research report on Thursday, May 22nd. They set an "overweight" rating on the stock. Three equities research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Strong Buy" and a consensus target price of $18.67.
Read Our Latest Report on Serve Robotics
Serve Robotics Stock Down 3.6%
The stock has a market cap of $711.90 million, a P/E ratio of -11.85 and a beta of 1.67. The firm has a 50 day simple moving average of $7.95 and a 200-day simple moving average of $11.15.
Insider Activity at Serve Robotics
In related news, CFO Brian Read sold 7,000 shares of the company's stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $8.03, for a total value of $56,210.00. Following the transaction, the chief financial officer now owns 233,900 shares in the company, valued at approximately $1,878,217. This represents a 2.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders have sold 58,164 shares of company stock worth $455,198. Company insiders own 5.50% of the company's stock.
Institutional Investors Weigh In On Serve Robotics
Several hedge funds have recently bought and sold shares of SERV. SG Americas Securities LLC bought a new position in shares of Serve Robotics during the fourth quarter worth approximately $114,000. Blue Trust Inc. bought a new position in Serve Robotics during the 4th quarter worth $27,000. Choreo LLC bought a new stake in shares of Serve Robotics in the fourth quarter valued at about $202,000. Stephens Inc. AR acquired a new position in shares of Serve Robotics in the fourth quarter valued at about $142,000. Finally, Bogart Wealth LLC acquired a new stake in Serve Robotics in the 4th quarter worth about $37,000.
About Serve Robotics
(
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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