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

Serve Robotics Inc. (NASDAQ:SERV) gapped up before the market opened on Tuesday . The stock had previously closed at $14.98, but opened at $15.45. Serve Robotics shares last traded at $15.26, with a volume of 1,819,200 shares traded.

Analyst Ratings Changes

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

Serve Robotics Trading Down 15.2 %

The stock has a 50-day simple moving average of $9.98 and a two-hundred day simple moving average of $8.18.

Insider Activity

In other news, Director James Buckly Jordan sold 64,408 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $8.57, for a total value of $551,976.56. Following the sale, the director now directly owns 449,052 shares in the company, valued at approximately $3,848,375.64. This trade represents a 12.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Touraj Parang sold 50,000 shares of Serve Robotics stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $12.99, for a total transaction of $649,500.00. Following the completion of the transaction, the chief operating officer now directly owns 1,163,439 shares in the company, valued at approximately $15,113,072.61. The trade was a 4.12 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 190,961 shares of company stock worth $2,118,183. Corporate insiders own 21.40% of the company’s stock.

Institutional Trading of Serve Robotics

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