Serve Robotics (NASDAQ:SERV) Trading 0.2% Higher – Here’s What Happened

Serve Robotics Inc. (NASDAQ:SERV)’s stock price traded up 0.2% during trading on Monday . The company traded as high as $9.30 and last traded at $9.06. 3,097,146 shares changed hands during mid-day trading, a decline of 68% from the average session volume of 9,631,823 shares. The stock had previously closed at $9.04.

Analyst Ratings Changes

Several research firms have weighed in on SERV. Seaport Res Ptn upgraded Serve Robotics to a “strong-buy” rating in a report on Monday, October 7th. Northland Capmk raised shares of Serve Robotics to a “strong-buy” rating in a report on Friday, October 18th. Aegis upgraded shares of Serve Robotics to a “strong-buy” rating in a research report on Wednesday, July 24th. Northland Securities assumed coverage on shares of Serve Robotics in a research report on Friday, October 18th. They set an “outperform” rating and a $16.00 price objective for the company. Finally, LADENBURG THALM/SH SH assumed coverage on shares of Serve Robotics in a report on Monday, October 28th. They issued a “buy” rating and a $16.00 target price on the stock. Two research analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Strong Buy” and an average target price of $16.00.

Serve Robotics Price Performance

The firm’s 50-day moving average is $8.81.

Serve Robotics (NASDAQ:SERV) last posted its quarterly earnings data on Tuesday, August 13th. The company reported ($0.27) EPS for the quarter. Serve Robotics had a negative return on equity of 184.60% and a negative net margin of 1,972.12%. The firm had revenue of $0.47 million for the quarter. As a group, equities analysts anticipate that Serve Robotics Inc. will post -0.95 earnings per share for the current year.

Hedge Funds Weigh In On Serve Robotics

A number of large investors have recently made changes to their positions in the company. Yong Rong HK Asset Management Ltd bought a new stake in Serve Robotics in the third quarter worth about $9,636,000. Thomist Capital Management LP bought a new stake in shares of Serve Robotics during the 2nd quarter worth approximately $407,000. PFG Investments LLC bought a new stake in shares of Serve Robotics during the 2nd quarter worth approximately $110,000. Bfsg LLC purchased a new position in Serve Robotics during the 3rd quarter valued at $38,000. Finally, Harbour Capital Advisors LLC bought a new position in Serve Robotics in the 3rd quarter valued at $198,000.

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.