Serve Robotics Inc. (NASDAQ:SERV) Given Average Rating of “Strong Buy” by Brokerages

Serve Robotics Inc. (NASDAQ:SERV) has been assigned a consensus rating of “Strong Buy” from the five research firms that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a buy rating and three have issued a strong buy rating on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $16.00.

Several research analysts recently issued reports on SERV shares. Northland Capmk raised Serve Robotics to a “strong-buy” rating in a research report on Friday, October 18th. LADENBURG THALM/SH SH initiated coverage on shares of Serve Robotics in a report on Monday, October 28th. They issued a “buy” rating and a $16.00 price target for the company. Seaport Res Ptn raised Serve Robotics to a “strong-buy” rating in a research report on Monday, October 7th. Finally, Northland Securities assumed coverage on Serve Robotics in a research report on Friday, October 18th. They set an “outperform” rating and a $16.00 price target for the company.

Serve Robotics Price Performance

NASDAQ:SERV opened at $13.50 on Thursday. Serve Robotics has a 52 week low of $1.77 and a 52 week high of $24.09. The firm has a 50 day moving average of $11.01 and a 200 day moving average of $8.99.

Insider Buying and Selling at Serve Robotics

In related news, Director James Buckly Jordan sold 64,408 shares of the stock in a transaction that occurred on 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 transaction, the director now owns 449,052 shares of the company’s stock, valued at approximately $3,848,375.64. This trade represents a 12.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Ali Kashani sold 2,500 shares of Serve Robotics stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $13.52, for a total value of $33,800.00. Following the completion of the transaction, the chief executive officer now directly owns 3,344,498 shares of the company’s stock, valued at approximately $45,217,612.96. This represents a 0.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 207,422 shares of company stock valued at $2,374,854. Company insiders own 21.40% of the company’s stock.

Institutional Investors Weigh In On Serve Robotics

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