Gordian Capital Singapore Pte Ltd Invests $68,000 in Serve Robotics Inc. (NASDAQ:SERV)

Gordian Capital Singapore Pte Ltd purchased a new position in Serve Robotics Inc. (NASDAQ:SERV) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 8,593 shares of the company’s stock, valued at approximately $68,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Larson Financial Group LLC purchased a new position in shares of Serve Robotics in the 3rd quarter worth about $26,000. Bfsg LLC purchased a new position in shares of Serve Robotics in the 3rd quarter worth about $38,000. Quantum Private Wealth LLC purchased a new position in shares of Serve Robotics in the 3rd quarter worth about $80,000. Quadrature Capital Ltd purchased a new position in shares of Serve Robotics in the 3rd quarter worth about $148,000. Finally, GSA Capital Partners LLP purchased a new position in shares of Serve Robotics in the 3rd quarter worth about $152,000.

Analyst Upgrades and Downgrades

Several research firms have commented on SERV. Seaport Res Ptn raised shares of Serve Robotics to a “strong-buy” rating in a report on Monday, October 7th. LADENBURG THALM/SH SH began coverage on shares of Serve Robotics in a report on Monday, October 28th. They set a “buy” rating and a $16.00 price objective on the stock. Northland Securities began coverage on shares of Serve Robotics in a report on Friday, October 18th. They set an “outperform” rating and a $16.00 price objective on the stock. Finally, Northland Capmk raised shares of Serve Robotics to a “strong-buy” rating in a report on Friday, October 18th. Two analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Strong Buy” and an average price target of $16.00.

Serve Robotics Stock Up 23.8 %

NASDAQ SERV opened at $11.80 on Monday. The firm’s 50-day simple moving average is $9.22 and its two-hundred day simple moving average is $7.61. Serve Robotics Inc. has a 52 week low of $1.77 and a 52 week high of $24.09.

Insider Activity

In related news, CEO Ali Kashani sold 9,719 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $8.77, for a total value of $85,235.63. Following the sale, the chief executive officer now directly owns 3,355,238 shares of the company’s stock, valued at $29,425,437.26. This trade represents a 0.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director James Buckly Jordan sold 64,408 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $8.57, for a total transaction of $551,976.56. Following the completion of the sale, the director now directly owns 449,052 shares in the company, valued at $3,848,375.64. This represents a 12.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 80,337 shares of company stock worth $690,974. 21.40% of the stock is owned by company insiders.

Serve Robotics 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.