Serve Robotics Inc. (NASDAQ:SERV – Get Free Report)’s stock price shot up 1.5% during mid-day trading on Tuesday . The company traded as high as $7.15 and last traded at $6.78. 1,968,114 shares were traded during mid-day trading, a decline of 83% from the average session volume of 11,343,354 shares. The stock had previously closed at $6.68.
Analyst Ratings Changes
Separately, Northland Securities set a $23.00 price objective on shares of Serve Robotics in a report on Tuesday, February 18th. Two research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Serve Robotics has an average rating of “Strong Buy” and a consensus target price of $19.50.
Get Our Latest Analysis on SERV
Serve Robotics Price Performance
Insider Activity at Serve Robotics
In other Serve Robotics news, CEO Ali Kashani sold 3,713 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $9.21, for a total value of $34,196.73. Following the completion of the transaction, the chief executive officer now directly owns 3,225,852 shares in the company, valued at $29,710,096.92. This trade represents a 0.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 93,031 shares of company stock worth $1,613,030 over the last 90 days. Insiders own 21.40% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Jefferies Financial Group Inc. raised its holdings in Serve Robotics by 30.3% in the 4th quarter. Jefferies Financial Group Inc. now owns 17,200 shares of the company’s stock valued at $232,000 after acquiring an additional 4,000 shares in the last quarter. Two Sigma Investments LP acquired a new position in Serve Robotics in the 4th quarter valued at $815,000. Tidal Investments LLC raised its holdings in Serve Robotics by 57.6% in the 4th quarter. Tidal Investments LLC now owns 51,846 shares of the company’s stock valued at $700,000 after acquiring an additional 18,948 shares in the last quarter. Man Group plc acquired a new position in Serve Robotics in the 4th quarter valued at $467,000. Finally, OMERS ADMINISTRATION Corp acquired a new position in Serve Robotics in the 4th quarter valued at $431,000.
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.
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