Serve Robotics (NASDAQ:SERV) Trading Up 10.3% – Time to Buy?

Serve Robotics Inc. (NASDAQ:SERV)’s share price traded up 10.3% during trading on Thursday . The stock traded as high as $15.11 and last traded at $14.89. 4,055,929 shares were traded during trading, a decline of 57% from the average session volume of 9,460,457 shares. The stock had previously closed at $13.50.

Analyst Ratings Changes

SERV has been the topic of a number of analyst reports. Northland Capmk upgraded shares of Serve Robotics to a “strong-buy” rating in a research report on Friday, October 18th. Seaport Res Ptn upgraded shares of Serve Robotics to a “strong-buy” rating in a research note on Monday, October 7th. LADENBURG THALM/SH SH began coverage on shares of Serve Robotics in a report on Monday, October 28th. They set a “buy” rating and a $16.00 price target for the company. Finally, Northland Securities started 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 analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Strong Buy” and a consensus target price of $16.00.

Serve Robotics Stock Performance

The firm’s 50-day simple moving average is $11.39 and its 200 day simple moving average is $9.18.

Insider Buying and Selling at Serve Robotics

In other Serve Robotics news, CEO Ali Kashani sold 7,500 shares of Serve Robotics stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $16.50, for a total transaction of $123,750.00. Following the completion of the transaction, the chief executive officer now owns 3,283,490 shares in the company, valued at approximately $54,177,585. The trade was a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director James Buckly Jordan sold 64,408 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 449,052 shares in the company, valued at $3,848,375.64. This trade represents a 12.54 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 207,462 shares of company stock valued at $2,375,472. Corporate insiders own 21.40% of the company’s stock.

Institutional Investors Weigh In On Serve Robotics

A number of institutional investors and hedge funds have recently bought and sold shares of SERV. PFG Investments LLC purchased a new position in Serve Robotics in the 2nd quarter valued at about $110,000. Thomist Capital Management LP acquired a new position in shares of Serve Robotics in the second quarter valued at approximately $407,000. Bfsg LLC purchased a new position in shares of Serve Robotics during the third quarter valued at approximately $38,000. Harbour Capital Advisors LLC acquired a new stake in Serve Robotics during the third quarter worth approximately $198,000. Finally, Yong Rong HK Asset Management Ltd acquired a new stake in Serve Robotics during the third quarter worth approximately $9,636,000.

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.