Serve Robotics (NASDAQ:SERV) Trading Up 6.2% – Should You Buy?

Serve Robotics Inc. (NASDAQ:SERV)’s stock price shot up 6.2% during trading on Tuesday . The stock traded as high as $8.60 and last traded at $8.53. 1,751,776 shares were traded during trading, a decline of 81% from the average session volume of 9,419,164 shares. The stock had previously closed at $8.03.

Analysts Set New Price Targets

SERV has been the subject of a number of recent research reports. Northland Capmk raised Serve Robotics to a “strong-buy” rating in a report on Friday, October 18th. Northland Securities began coverage on shares of Serve Robotics in a research note on Friday, October 18th. They issued an “outperform” rating and a $16.00 target price on the stock. Aegis raised Serve Robotics to a “strong-buy” rating in a report on Wednesday, July 24th. Seaport Res Ptn upgraded shares of Serve Robotics to a “strong-buy” rating in a research note on Monday, October 7th. Finally, LADENBURG THALM/SH SH began coverage on Serve Robotics in a research report on Monday, October 28th. They set a “buy” rating and a $16.00 price target on the stock. Two analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Strong Buy” and an average target price of $16.00.

Serve Robotics Stock Up 7.2 %

The stock’s fifty day moving average price is $8.86 and its 200 day moving average price is $7.02.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Larson Financial Group LLC purchased a new stake in Serve Robotics in the third quarter worth approximately $26,000. Bfsg LLC bought a new position in shares of Serve Robotics during the third quarter valued at about $38,000. Gordian Capital Singapore Pte Ltd purchased a new stake in Serve Robotics in the 3rd quarter worth approximately $68,000. Quantum Private Wealth LLC purchased a new stake in Serve Robotics in the third quarter worth $80,000. Finally, Quadrature Capital Ltd bought a new stake in shares of Serve Robotics during the 3rd quarter valued at about $148,000.

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.