Serve Robotics Inc. (NASDAQ:SERV) Given Average Rating of “Strong Buy” by Brokerages

Shares of Serve Robotics Inc. (NASDAQ:SERV) have been assigned a consensus rating of “Strong Buy” from the five research firms that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a buy recommendation and three have given a strong buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $16.00.

A number of research firms have recently commented on SERV. LADENBURG THALM/SH SH initiated coverage on shares of Serve Robotics in a report on Monday, October 28th. They issued a “buy” rating and a $16.00 price target on the stock. Northland Capmk upgraded shares of Serve Robotics to a “strong-buy” rating in a research note on Friday, October 18th. Seaport Res Ptn raised shares of Serve Robotics to a “strong-buy” rating in a research note on Monday, October 7th. Northland Securities started coverage on Serve Robotics in a research note on Friday, October 18th. They issued an “outperform” rating and a $16.00 price objective on the stock. Finally, Aegis upgraded Serve Robotics to a “strong-buy” rating in a report on Wednesday, July 24th.

Institutional Trading of Serve Robotics

A number of hedge funds have recently bought and sold shares of SERV. Yong Rong HK Asset Management Ltd bought a new position in shares of Serve Robotics in the 3rd quarter worth $9,636,000. Thomist Capital Management LP purchased a new position in Serve Robotics in the second quarter valued at about $407,000. Geode Capital Management LLC raised 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 worth $1,041,000 after purchasing an additional 73,496 shares in the last quarter. PFG Investments LLC purchased a new stake in shares of Serve Robotics during the second quarter valued at about $110,000. Finally, State Street Corp bought a new stake in shares of Serve Robotics in the 3rd quarter valued at about $333,000.

Serve Robotics Stock Up 1.9 %

Shares of Serve Robotics stock opened at $8.00 on Wednesday. The stock’s fifty day moving average is $8.84 and its two-hundred day moving average is $7.02. Serve Robotics has a 52 week low of $1.77 and a 52 week high of $24.09.

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.