Serve Robotics Target of Unusually Large Options Trading (NASDAQ:SERV)

Serve Robotics Inc. (NASDAQ:SERV) saw unusually large options trading activity on Friday. Traders purchased 17,465 call options on the stock. This represents an increase of 53% compared to the average volume of 11,390 call options.

Analyst Ratings Changes

Several brokerages recently issued reports on SERV. LADENBURG THALM/SH SH started 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. Seaport Res Ptn raised Serve Robotics to a “strong-buy” rating in a report on Monday, October 7th. Northland Securities raised their price target on Serve Robotics from $16.00 to $23.00 and gave the company an “outperform” rating in a report on Wednesday, January 15th. Finally, Northland Capmk raised Serve Robotics to a “strong-buy” rating in a research note on Friday, October 18th. Two analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, Serve Robotics presently has a consensus rating of “Strong Buy” and an average target price of $19.50.

Serve Robotics Price Performance

SERV opened at $19.26 on Friday. The company’s 50 day simple moving average is $13.70 and its 200-day simple moving average is $10.75. Serve Robotics has a one year low of $1.77 and a one year high of $24.35.

Serve Robotics (NASDAQ:SERV) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.20) EPS for the quarter, meeting analysts’ consensus estimates of ($0.20). The firm had revenue of $0.22 million for the quarter, compared to analyst estimates of $0.36 million. Serve Robotics had a negative return on equity of 184.60% and a negative net margin of 1,972.12%. On average, equities analysts anticipate that Serve Robotics will post -0.98 EPS for the current fiscal year.

Insiders Place Their Bets

In other Serve Robotics news, COO Touraj Parang sold 50,000 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $12.99, for a total value of $649,500.00. Following the sale, the chief operating officer now owns 1,163,439 shares of the company’s stock, valued at $15,113,072.61. The trade was a 4.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director James Buckly Jordan sold 64,408 shares of the stock in a transaction 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 represents a 12.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 253,027 shares of company stock worth $3,309,166 in the last ninety days. Insiders own 21.40% of the company’s stock.

Institutional Trading of Serve Robotics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Larson Financial Group LLC acquired a new stake in shares of Serve Robotics in the 3rd quarter valued at approximately $26,000. Blue Trust Inc. bought a new position in Serve Robotics in the fourth quarter valued at approximately $27,000. Bfsg LLC bought a new position in Serve Robotics in the third quarter valued at approximately $38,000. Gordian Capital Singapore Pte Ltd acquired a new position in shares of Serve Robotics in the third quarter valued at approximately $68,000. Finally, Quantum Private Wealth LLC bought a new stake in shares of Serve Robotics during the third quarter worth $80,000.

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.