Serve Robotics (NASDAQ:SERV) Shares Up 1.5% – Here’s Why

Serve Robotics Inc. (NASDAQ:SERVGet Free Report) shares were up 1.5% on Friday . The company traded as high as $8.71 and last traded at $8.59. Approximately 841,488 shares were traded during mid-day trading, a decline of 91% from the average daily volume of 9,293,729 shares. The stock had previously closed at $8.46.

Analyst Ratings Changes

SERV has been the subject of several recent analyst 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 Serve Robotics to a “strong-buy” rating in a report on Monday, October 7th. Northland Securities started coverage on Serve Robotics in a report on Friday, October 18th. They issued an “outperform” rating and a $16.00 price objective on the stock. Finally, LADENBURG THALM/SH SH began coverage on Serve Robotics in a research note on Monday, October 28th. They set a “buy” rating and a $16.00 target price for the company. Two investment analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. According to MarketBeat, Serve Robotics presently has an average rating of “Strong Buy” and an average target price of $16.00.

View Our Latest Research Report on Serve Robotics

Serve Robotics Stock Performance

The company’s 50 day moving average is $8.95 and its 200 day moving average is $7.16.

Institutional Trading of Serve Robotics

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC boosted its position in shares of Serve Robotics by 128.1% in the 3rd quarter. Geode Capital Management LLC now owns 130,853 shares of the company’s stock valued at $1,041,000 after purchasing an additional 73,496 shares during the period. Gordian Capital Singapore Pte Ltd purchased a new stake in Serve Robotics in the third quarter valued at approximately $68,000. State Street Corp acquired a new stake in shares of Serve Robotics in the third quarter valued at approximately $333,000. Quadrature Capital Ltd purchased a new position in shares of Serve Robotics during the third quarter worth approximately $148,000. Finally, Larson Financial Group LLC acquired a new position in shares of Serve Robotics in the 3rd quarter valued at $26,000.

Serve Robotics Company Profile

(Get Free Report)

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.

Further Reading

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