Serve Robotics (NASDAQ:SERV) Trading 6.2% Higher – What’s Next?

Shares of Serve Robotics Inc. (NASDAQ:SERV) traded up 6.2% during mid-day trading on Tuesday . The stock traded as high as $8.60 and last traded at $8.53. 1,751,776 shares changed hands during trading, a decline of 81% from the average session volume of 9,419,164 shares. The stock had previously closed at $8.03.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SERV. Northland Capmk upgraded Serve Robotics to a “strong-buy” rating in a research report on Friday, October 18th. LADENBURG THALM/SH SH started coverage on Serve Robotics in a report on Monday, October 28th. They set a “buy” rating and a $16.00 price target on the stock. Northland Securities began coverage on Serve Robotics in a research note on Friday, October 18th. They issued an “outperform” rating and a $16.00 price target for the company. Seaport Res Ptn raised shares of Serve Robotics to a “strong-buy” rating in a report on Monday, October 7th. Finally, Aegis raised shares of Serve Robotics to a “strong-buy” rating in a research report on Wednesday, July 24th. Two 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 company currently has a consensus rating of “Strong Buy” and an average target price of $16.00.

Serve Robotics Stock Up 7.2 %

The company’s 50 day simple moving average is $8.86 and its 200 day simple moving average is $7.02.

Institutional Investors Weigh In On Serve Robotics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SERV. Larson Financial Group LLC acquired a new stake in shares of Serve Robotics during the 3rd quarter worth about $26,000. Bfsg LLC acquired a new position in shares of Serve Robotics during the third quarter worth $38,000. Gordian Capital Singapore Pte Ltd acquired a new stake in Serve Robotics during the 3rd quarter valued at approximately $68,000. Quantum Private Wealth LLC bought a new position in shares of Serve Robotics in the 3rd quarter worth about $80,000. Finally, Quadrature Capital Ltd bought a new position in Serve Robotics during the third quarter worth $148,000.

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.