Investors Buy High Volume of Call Options on Serve Robotics (NASDAQ:SERV)

Serve Robotics Inc. (NASDAQ:SERV) was the recipient of some unusual options trading on Wednesday. Traders bought 15,067 call options on the company. This represents an increase of 88% compared to the average daily volume of 8,008 call options.

Analysts Set New Price Targets

Separately, Aegis upgraded Serve Robotics to a “strong-buy” rating in a research report on Wednesday, July 24th.

Institutional Trading of Serve Robotics

An institutional investor recently bought a new position in Serve Robotics stock. PFG Investments LLC purchased a new stake in shares of Serve Robotics Inc. (NASDAQ:SERV) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 56,408 shares of the company’s stock, valued at approximately $110,000. PFG Investments LLC owned 0.15% of Serve Robotics as of its most recent filing with the SEC.

Serve Robotics Stock Performance

Shares of NASDAQ SERV traded up $2.50 during midday trading on Wednesday, reaching $12.87. 20,432,459 shares of the stock traded hands, compared to its average volume of 12,454,421. Serve Robotics has a one year low of $1.77 and a one year high of $24.09. The stock has a 50 day moving average of $6.16.

Serve Robotics (NASDAQ:SERV) last released its quarterly earnings results on Wednesday, May 15th. The company reported ($0.37) earnings per share for the quarter. The company had revenue of $0.95 million during the quarter. As a group, equities analysts predict that Serve Robotics will post -0.86 EPS for the current fiscal year.

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.