Serve Robotics (NASDAQ:SERV) Trading Down 1.6%

Shares of Serve Robotics Inc. (NASDAQ:SERV) dropped 1.6% on Tuesday . The stock traded as low as $11.17 and last traded at $11.43. Approximately 3,868,236 shares changed hands during mid-day trading, a decline of 69% from the average daily volume of 12,567,566 shares. The stock had previously closed at $11.62.

Wall Street Analyst Weigh In

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

Serve Robotics Stock Performance

The stock’s fifty day moving average is $6.84.

Institutional Trading of Serve Robotics

An institutional investor recently bought a new position in Serve Robotics stock. Thomist Capital Management LP acquired a new position in Serve Robotics Inc. (NASDAQ:SERV) during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 208,910 shares of the company’s stock, valued at approximately $407,000. Thomist Capital Management LP owned 0.56% of Serve Robotics at the end of the most recent reporting period.

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.