Serve Robotics Inc. (NASDAQ:SERV) Receives $19.50 Consensus PT from Brokerages

Serve Robotics Inc. (NASDAQ:SERV) has received an average recommendation of “Strong Buy” from the five ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a buy recommendation and three have given a strong buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $19.50.

Separately, Northland Securities set a $23.00 price target on Serve Robotics in a research report on Tuesday, February 18th.

Insider Buying and Selling

In other Serve Robotics news, CEO Ali Kashani sold 3,713 shares of the firm’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $9.21, for a total transaction of $34,196.73. Following the completion of the transaction, the chief executive officer now owns 3,225,852 shares of the company’s stock, valued at approximately $29,710,096.92. This trade represents a 0.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders sold 11,369 shares of company stock worth $90,704 in the last ninety days. Insiders own 21.40% of the company’s stock.

Institutional Trading of Serve Robotics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. acquired a new stake in shares of Serve Robotics during the 4th quarter worth about $27,000. CIBC Private Wealth Group LLC acquired a new stake in Serve Robotics during the fourth quarter worth approximately $34,000. Bogart Wealth LLC purchased a new stake in Serve Robotics in the 4th quarter worth approximately $37,000. SG Americas Securities LLC acquired a new position in Serve Robotics in the 4th quarter valued at $114,000. Finally, Stephens Inc. AR purchased a new position in shares of Serve Robotics during the 4th quarter worth $142,000.

Serve Robotics Price Performance

SERV opened at $5.79 on Friday. The stock’s 50 day simple moving average is $9.28 and its 200 day simple moving average is $11.32. The stock has a market cap of $329.56 million and a P/E ratio of -4.83. Serve Robotics has a 1-year low of $1.77 and a 1-year high of $24.35.

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.