Serve Robotics Inc. (NASDAQ:SERV - Get Free Report) shares gapped up before the market opened on Monday . The stock had previously closed at $7.46, but opened at $8.38. Serve Robotics shares last traded at $8.78, with a volume of 3,977,890 shares traded.
Analyst Ratings Changes
Separately, Northland Securities set a $23.00 price target on shares of Serve Robotics in a research report on Tuesday, February 18th. Two research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Serve Robotics presently has an average rating of "Strong Buy" and a consensus price target of $19.50.
View Our Latest Analysis on Serve Robotics
Serve Robotics Stock Performance
The firm's fifty day simple moving average is $6.59 and its 200 day simple moving average is $10.88. The stock has a market capitalization of $617.39 million and a P/E ratio of -10.22.
Insider Activity at Serve Robotics
In related news, CFO Brian Read sold 8,900 shares of the company's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $8.95, for a total transaction of $79,655.00. Following the completion of the sale, the chief financial officer now directly owns 225,000 shares in the company, valued at $2,013,750. This represents a 3.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Ali Kashani sold 3,713 shares of Serve Robotics stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $9.21, for a total value of $34,196.73. Following the completion of the transaction, the chief executive officer now owns 3,225,852 shares in the company, valued at approximately $29,710,096.92. This represents a 0.11% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 58,834 shares of company stock valued at $447,179 over the last three months. 5.50% of the stock is owned by insiders.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. acquired a new stake in Serve Robotics in the fourth quarter valued at approximately $27,000. CIBC Private Wealth Group LLC acquired a new stake in shares of Serve Robotics during the 4th quarter valued at $34,000. Bogart Wealth LLC bought a new stake in Serve Robotics during the 4th quarter worth $37,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Serve Robotics in the 1st quarter worth about $49,000. Finally, SG Americas Securities LLC acquired a new position in Serve Robotics in the 4th quarter worth about $114,000.
Serve Robotics Company Profile
(
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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.
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