Investors Buy High Volume of Call Options on Serve Robotics (NASDAQ:SERV)

Serve Robotics Inc. (NASDAQ:SERV) saw some unusual options trading on Wednesday. Stock investors purchased 15,067 call options on the stock. This represents an increase of 88% compared to the typical daily volume of 8,008 call options.

Analyst Upgrades and Downgrades

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

Serve Robotics Stock Performance

Shares of NASDAQ:SERV traded up $2.50 on Wednesday, reaching $12.87. 20,432,459 shares of the company traded hands, compared to its average volume of 12,454,421. The firm has a 50 day simple moving average of $6.16. Serve Robotics has a fifty-two week low of $1.77 and a fifty-two week high of $24.09.

Serve Robotics (NASDAQ:SERV) last announced its earnings results on Wednesday, May 15th. The company reported ($0.37) EPS for the quarter. The firm had revenue of $0.95 million during the quarter. As a group, research analysts forecast that Serve Robotics will post -0.86 EPS for the current fiscal year.

Institutional Trading of Serve Robotics

A hedge fund recently bought a new stake in Serve Robotics stock. PFG Investments LLC bought a new position in Serve Robotics Inc. (NASDAQ:SERV) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 56,408 shares of the company’s stock, valued at approximately $110,000. PFG Investments LLC owned approximately 0.15% 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.