Northland Securities Boosts Serve Robotics (NASDAQ:SERV) Price Target to $23.00

Serve Robotics (NASDAQ:SERV) had its price objective upped by Northland Securities from $16.00 to $23.00 in a research note published on Wednesday,Benzinga reports. They currently have an outperform rating on the stock.

Several other research analysts also recently issued reports on the stock. Seaport Res Ptn upgraded shares of Serve Robotics to a “strong-buy” rating in a research note on Monday, October 7th. Northland Capmk upgraded shares of Serve Robotics to a “strong-buy” rating in a research note on Friday, October 18th. Finally, LADENBURG THALM/SH SH assumed coverage on shares of Serve Robotics in a research note on Monday, October 28th. They issued a “buy” rating and a $16.00 target price on the stock. Two equities research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, Serve Robotics has a consensus rating of “Strong Buy” and an average target price of $19.50.

Serve Robotics Price Performance

NASDAQ:SERV opened at $18.49 on Wednesday. Serve Robotics has a one year low of $1.77 and a one year high of $24.35. The company’s 50-day simple moving average is $12.40 and its 200 day simple moving average is $10.07.

Insider Activity

In other news, Director James Buckly Jordan sold 64,408 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $8.57, for a total transaction of $551,976.56. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ali Kashani sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $13.52, for a total transaction of $33,800.00. Following the transaction, the chief executive officer now directly owns 3,344,498 shares of the company’s stock, valued at $45,217,612.96. The trade was a 0.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 253,027 shares of company stock valued at $3,309,166 over the last three months. Insiders own 21.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Harbour Capital Advisors LLC raised its holdings in shares of Serve Robotics by 102.4% during the fourth quarter. Harbour Capital Advisors LLC now owns 50,365 shares of the company’s stock valued at $680,000 after purchasing an additional 25,475 shares during the last quarter. Tidal Investments LLC purchased a new stake in Serve Robotics during the third quarter valued at approximately $262,000. Geode Capital Management LLC increased its holdings in Serve Robotics by 128.1% during the third quarter. Geode Capital Management LLC now owns 130,853 shares of the company’s stock valued at $1,041,000 after buying an additional 73,496 shares during the last quarter. Gordian Capital Singapore Pte Ltd purchased a new stake in Serve Robotics during the third quarter valued at approximately $68,000. Finally, State Street Corp purchased a new stake in Serve Robotics during the third quarter valued at approximately $333,000.

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.