Serve Robotics (NASDAQ:SERV) Stock Price Up 1.5% – Time to Buy?

Serve Robotics Inc. (NASDAQ:SERV) traded up 1.5% during mid-day trading on Friday . The stock traded as high as $8.71 and last traded at $8.59. 841,488 shares were traded during mid-day trading, a decline of 91% from the average session volume of 9,293,729 shares. The stock had previously closed at $8.46.

Analysts Set New Price Targets

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

Serve Robotics Stock Down 0.2 %

The stock has a 50 day simple moving average of $8.95 and a two-hundred day simple moving average of $7.09.

Hedge Funds Weigh In On Serve Robotics

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

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.