Serve Robotics Inc. (NASDAQ:SERV) Receives Average Rating of “Strong Buy” from Analysts

Serve Robotics Inc. (NASDAQ:SERV) has earned an average recommendation of “Strong Buy” from the five ratings firms that are currently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a buy rating and three have issued a strong buy rating on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $16.00.

Several research analysts recently commented on the stock. Northland Capmk raised shares of Serve Robotics to a “strong-buy” rating in a report on Friday, October 18th. Northland Securities began coverage on Serve Robotics in a report on Friday, October 18th. They issued an “outperform” rating and a $16.00 price target for the company. LADENBURG THALM/SH SH initiated coverage on Serve Robotics in a research note on Monday, October 28th. They set a “buy” rating and a $16.00 price objective on the stock. Finally, Seaport Res Ptn upgraded Serve Robotics to a “strong-buy” rating in a research note on Monday, October 7th.

Serve Robotics Trading Down 9.7 %

SERV opened at $16.80 on Thursday. The firm has a 50-day moving average price of $11.86 and a 200-day moving average price of $9.60. Serve Robotics has a twelve month low of $1.77 and a twelve month high of $24.35.

Insider Buying and Selling at Serve Robotics

In other news, Director James Buckly Jordan sold 64,408 shares of Serve Robotics stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $8.57, for a total transaction of $551,976.56. Following the completion of the sale, the director now owns 449,052 shares in the company, valued at approximately $3,848,375.64. This trade represents a 12.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Ali Kashani sold 9,719 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $8.77, for a total transaction of $85,235.63. Following the completion of the transaction, the chief executive officer now owns 3,355,238 shares in the company, valued at approximately $29,425,437.26. This trade represents a 0.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 252,462 shares of company stock valued at $3,298,197 in the last three months. Company insiders own 21.40% of the company’s stock.

Institutional Trading of Serve Robotics

Hedge funds have recently made changes to their positions in the stock. Larson Financial Group LLC bought a new position in Serve Robotics in the third quarter valued at $26,000. Bfsg LLC bought a new position in shares of Serve Robotics during the 3rd quarter valued at about $38,000. Gordian Capital Singapore Pte Ltd bought a new position in shares of Serve Robotics during the 3rd quarter valued at about $68,000. Quantum Private Wealth LLC purchased a new position in shares of Serve Robotics during the 3rd quarter valued at about $80,000. Finally, PFG Investments LLC bought a new stake in Serve Robotics in the 2nd quarter worth approximately $110,000.

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.