Serve Robotics Sees Unusually High Options Volume (NASDAQ:SERV)

Serve Robotics Inc. (NASDAQ:SERV) saw some unusual options trading activity on Thursday. Stock investors bought 15,550 call options on the stock. This represents an increase of 71% compared to the typical daily volume of 9,103 call options.

Insider Activity at Serve Robotics

In other news, Director James Buckly Jordan sold 64,408 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was 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 represents a 12.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 directly owns 3,355,238 shares of the company’s stock, valued at $29,425,437.26. This represents a 0.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 207,422 shares of company stock worth $2,374,854. Insiders own 21.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Larson Financial Group LLC purchased a new stake in shares of Serve Robotics during the 3rd quarter worth $26,000. Bfsg LLC purchased a new stake in shares of Serve Robotics during the third quarter valued at about $38,000. Gordian Capital Singapore Pte Ltd purchased a new position in shares of Serve Robotics in the 3rd quarter worth approximately $68,000. Quantum Private Wealth LLC bought a new position in shares of Serve Robotics during the 3rd quarter worth approximately $80,000. Finally, PFG Investments LLC purchased a new stake in Serve Robotics during the second quarter valued at approximately $110,000.

Analyst Ratings Changes

A number of brokerages recently weighed in on SERV. Northland Securities initiated coverage on shares of Serve Robotics in a report on Friday, October 18th. They set an “outperform” rating and a $16.00 price objective for the company. Northland Capmk upgraded Serve Robotics to a “strong-buy” rating in a report on Friday, October 18th. LADENBURG THALM/SH SH assumed coverage on Serve Robotics in a report on Monday, October 28th. They set a “buy” rating and a $16.00 price objective on the stock. Finally, Seaport Res Ptn upgraded Serve Robotics to a “strong-buy” rating in a report on Monday, October 7th. 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 company has an average rating of “Strong Buy” and an average target price of $16.00.

Serve Robotics Trading Down 7.7 %

NASDAQ SERV opened at $16.29 on Friday. Serve Robotics has a 52-week low of $1.77 and a 52-week high of $24.09. The firm’s 50 day moving average price is $10.83 and its 200-day moving average price is $8.73.

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.