Serve Robotics (NASDAQ:SERV) Shares Down 4%

Serve Robotics Inc. (NASDAQ:SERV)’s stock price fell 4% during mid-day trading on Wednesday . The company traded as low as $6.35 and last traded at $6.45. 1,079,461 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 11,294,810 shares. The stock had previously closed at $6.72.

Wall Street Analyst Weigh In

Separately, Aegis raised Serve Robotics to a “strong-buy” rating in a research note on Wednesday, July 24th.

Serve Robotics Price Performance

The company’s 50 day moving average price is $9.21.

Serve Robotics (NASDAQ:SERV) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($0.27) earnings per share (EPS) for the quarter. The business had revenue of $0.47 million during the quarter. Serve Robotics had a negative net margin of 2,155.86% and a negative return on equity of 728.80%. On average, equities research analysts anticipate that Serve Robotics Inc. will post -0.85 EPS for the current year.

Institutional Trading of Serve Robotics

A hedge fund recently bought a new stake in Serve Robotics stock. Thomist Capital Management LP bought a new stake in Serve Robotics Inc. (NASDAQ:SERV) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 208,910 shares of the company’s stock, valued at approximately $407,000. Thomist Capital Management LP owned approximately 0.56% of Serve Robotics at the end of the most recent reporting period.

Serve Robotics Company Profile

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.