Serve Robotics (NASDAQ:SERV) Trading Down 9%

Shares of Serve Robotics Inc. (NASDAQ:SERV) traded down 9% during mid-day trading on Tuesday . The stock traded as low as $7.64 and last traded at $7.73. 1,427,246 shares were traded during mid-day trading, a decline of 88% from the average session volume of 11,762,930 shares. The stock had previously closed at $8.49.

Wall Street Analysts Forecast Growth

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

Serve Robotics Stock Down 7.6 %

The firm’s 50-day moving average is $8.58.

Serve Robotics (NASDAQ:SERV) last released its quarterly earnings data on Tuesday, August 13th. The company reported ($0.27) EPS for the quarter. Serve Robotics had a negative net margin of 2,155.86% and a negative return on equity of 728.80%. The business had revenue of $0.47 million for the quarter. As a group, equities analysts expect that Serve Robotics Inc. will post -0.85 EPS for the current year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Serve Robotics stock. Thomist Capital Management LP acquired a new stake in Serve Robotics Inc. (NASDAQ:SERV) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 208,910 shares of the company’s stock, valued at approximately $407,000. Thomist Capital Management LP owned about 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.