Serve Robotics (NASDAQ:SERV) Shares Up 1.1% – Here’s Why

Serve Robotics Inc. (NASDAQ:SERV) shares traded up 1.1% on Thursday . The stock traded as high as $8.94 and last traded at $8.84. 1,110,179 shares traded hands during trading, a decline of 88% from the average session volume of 9,335,036 shares. The stock had previously closed at $8.74.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Seaport Res Ptn raised shares of Serve Robotics to a “strong-buy” rating in a research report on Monday, October 7th. Northland Capmk raised shares of Serve Robotics to a “strong-buy” rating in a research report on Friday, October 18th. LADENBURG THALM/SH SH started coverage on shares of Serve Robotics in a research report on Monday, October 28th. They issued a “buy” rating and a $16.00 target price for the company. Finally, Northland Securities started coverage on shares of Serve Robotics in a research report on Friday, October 18th. They issued an “outperform” rating and a $16.00 target price for the company. Two analysts have rated the stock with a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Strong Buy” and a consensus price target of $16.00.

Serve Robotics Stock Performance

The business’s 50-day moving average price is $8.95 and its 200-day moving average price is $7.13.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Larson Financial Group LLC purchased a new stake in Serve Robotics in the 3rd quarter worth $26,000. Bfsg LLC purchased a new stake in Serve Robotics in the 3rd quarter worth $38,000. Gordian Capital Singapore Pte Ltd purchased a new stake in Serve Robotics in the 3rd quarter worth $68,000. Quantum Private Wealth LLC purchased a new stake in Serve Robotics in the 3rd quarter worth $80,000. Finally, PFG Investments LLC purchased a new stake in Serve Robotics in the 2nd quarter worth $110,000.

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.