Serve Robotics Target of Unusually High Options Trading (NASDAQ:SERV)

Serve Robotics Inc. (NASDAQ:SERV) saw unusually large options trading activity on Friday. Stock investors bought 17,465 call options on the stock. This is an increase of approximately 53% compared to the average daily volume of 11,390 call options.

Serve Robotics Stock Up 13.3 %

Shares of SERV traded up $2.37 during mid-day trading on Friday, hitting $20.19. 12,241,440 shares of the company’s stock were exchanged, compared to its average volume of 13,846,638. Serve Robotics has a fifty-two week low of $1.77 and a fifty-two week high of $24.35. The stock’s 50-day moving average is $13.70 and its 200-day moving average is $10.75.

Serve Robotics (NASDAQ:SERV) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.20) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.20). The business had revenue of $0.22 million for the quarter, compared to analysts’ expectations of $0.36 million. Serve Robotics had a negative net margin of 1,972.12% and a negative return on equity of 184.60%. Analysts forecast that Serve Robotics will post -0.98 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SERV has been the topic of several recent research reports. Northland Capmk raised shares of Serve Robotics to a “strong-buy” rating in a research report on Friday, October 18th. Seaport Res Ptn raised shares of Serve Robotics to a “strong-buy” rating in a research report on Monday, October 7th. LADENBURG THALM/SH SH started coverage on shares of Serve Robotics in a research report on Monday, October 28th. They issued a “buy” rating and a $16.00 target price on the stock. Finally, Northland Securities upped their target price on shares of Serve Robotics from $16.00 to $23.00 and gave the company an “outperform” rating in a research report on Wednesday, January 15th. Two analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Strong Buy” and an average target price of $19.50.

Insider Buying and Selling

In other news, CEO Ali Kashani sold 9,719 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $8.77, for a total transaction of $85,235.63. Following the completion of the sale, the chief executive officer now owns 3,355,238 shares of the company’s stock, valued at $29,425,437.26. This represents a 0.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James Buckly Jordan sold 64,408 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $8.57, for a total transaction of $551,976.56. Following the sale, the director now directly owns 449,052 shares of the company’s stock, valued at $3,848,375.64. The trade was a 12.54 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 253,027 shares of company stock valued at $3,309,166. 21.40% of the stock is owned by corporate insiders.

Institutional Trading of Serve Robotics

A number of large investors have recently made changes to their positions in SERV. Blue Trust Inc. acquired a new stake in shares of Serve Robotics in the fourth quarter valued at approximately $27,000. Larson Financial Group LLC acquired a new stake in shares of Serve Robotics during the third quarter worth $26,000. Bfsg LLC acquired a new stake in shares of Serve Robotics during the third quarter worth $38,000. SG Americas Securities LLC acquired a new stake in shares of Serve Robotics during the fourth quarter worth $114,000. Finally, Gordian Capital Singapore Pte Ltd acquired a new stake in shares of Serve Robotics during the third quarter worth $68,000.

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.