Serve Robotics (NASDAQ:SERV) Shares Gap Up – What’s Next?

Serve Robotics Inc. (NASDAQ:SERV) shares gapped up prior to trading on Thursday . The stock had previously closed at $13.50, but opened at $14.15. Serve Robotics shares last traded at $14.99, with a volume of 2,933,931 shares changing hands.

Analyst Ratings Changes

SERV has been the subject of a number of research analyst reports. Northland Capmk upgraded shares of Serve Robotics to a “strong-buy” rating in a report on Friday, October 18th. Seaport Res Ptn raised shares of Serve Robotics to a “strong-buy” rating in a research report on Monday, October 7th. LADENBURG THALM/SH SH started coverage on shares of Serve Robotics in a report on Monday, October 28th. They issued a “buy” rating and a $16.00 target price for the company. Finally, Northland Securities assumed coverage on Serve Robotics in a report on Friday, October 18th. They issued an “outperform” rating and a $16.00 price objective on the stock. Two equities research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Strong Buy” and a consensus price target of $16.00.

Serve Robotics Price Performance

The company has a fifty day simple moving average of $11.01 and a 200-day simple moving average of $8.99.

Insider Activity

In other Serve Robotics news, CEO Ali Kashani sold 9,719 shares of the firm’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 value of $85,235.63. Following the sale, the chief executive officer now owns 3,355,238 shares of the company’s stock, valued at $29,425,437.26. This trade represents a 0.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director James Buckly Jordan sold 64,408 shares of the business’s 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 transaction, the director now owns 449,052 shares in the company, valued at approximately $3,848,375.64. The trade was a 12.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 207,422 shares of company stock worth $2,374,854 in the last three months. 21.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Serve Robotics

Institutional investors and hedge funds have recently made changes to their positions in the company. Larson Financial Group LLC acquired a new stake in Serve Robotics during the 3rd quarter worth approximately $26,000. Bfsg LLC bought a new stake in Serve Robotics in the third quarter valued at approximately $38,000. Gordian Capital Singapore Pte Ltd acquired a new stake in Serve Robotics during the 3rd quarter valued at $68,000. Quantum Private Wealth LLC bought a new stake in shares of Serve Robotics during the 3rd quarter worth about $80,000. Finally, Quadrature Capital Ltd acquired a new position in shares of Serve Robotics in the third quarter valued at approximately $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.