Serve Robotics Inc. (NASDAQ:SERV) Receives Consensus Rating of “Strong Buy” from Analysts

Serve Robotics Inc. (NASDAQ:SERV) has received an average rating of “Strong Buy” from the five analysts that are currently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $16.00.

SERV has been the subject of a number of analyst reports. Northland Securities assumed coverage on shares of Serve Robotics in a report on Friday, October 18th. They set an “outperform” rating and a $16.00 price objective for the company. Seaport Res Ptn raised shares of Serve Robotics to a “strong-buy” rating in a research report on Monday, October 7th. Northland Capmk raised Serve Robotics to a “strong-buy” rating in a report on Friday, October 18th. Finally, LADENBURG THALM/SH SH started coverage on Serve Robotics in a report on Monday, October 28th. They issued a “buy” rating and a $16.00 target price on the stock.

Insider Activity at Serve Robotics

In other Serve Robotics news, Director James Buckly Jordan sold 64,408 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $8.57, for a total value of $551,976.56. Following the completion of the transaction, the director now owns 449,052 shares in the company, valued at $3,848,375.64. This represents a 12.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ali Kashani sold 37,500 shares of Serve Robotics stock in a transaction on Monday, January 6th. The stock was sold at an average price of $21.16, for a total value of $793,500.00. Following the sale, the chief executive officer now owns 3,230,990 shares in the company, valued at $68,367,748.40. The trade was a 1.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 252,462 shares of company stock valued at $3,298,197 over the last ninety days. Corporate insiders own 21.40% of the company’s stock.

Hedge Funds Weigh In On Serve Robotics

Several institutional investors have recently added to or reduced their stakes in SERV. Larson Financial Group LLC bought a new stake in Serve Robotics in the third quarter worth about $26,000. Bfsg LLC bought a new stake in shares of Serve Robotics in the 3rd quarter worth approximately $38,000. Gordian Capital Singapore Pte Ltd bought a new stake in shares of Serve Robotics in the 3rd quarter worth approximately $68,000. Quantum Private Wealth LLC purchased a new position in Serve Robotics in the third quarter valued at approximately $80,000. Finally, PFG Investments LLC bought a new position in Serve Robotics during the second quarter valued at $110,000.

Serve Robotics Trading Down 9.7 %

Shares of SERV opened at $16.80 on Thursday. The business’s fifty day moving average is $11.86 and its 200 day moving average is $9.60. Serve Robotics has a 12-month low of $1.77 and a 12-month high of $24.35.

About Serve Robotics

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.