Serve Robotics Inc. (NASDAQ:SERV - Get Free Report) shares traded up 4.5% during mid-day trading on Wednesday . The stock traded as high as $10.40 and last traded at $10.25. 1,892,034 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 9,648,481 shares. The stock had previously closed at $9.81.
A number of research analysts recently issued reports on the company. Seaport Res Ptn raised Serve Robotics to a "strong-buy" rating in a report on Monday, October 7th. Northland Securities started coverage on shares of Serve Robotics in a research report on Friday, October 18th. They issued an "outperform" rating and a $16.00 price objective for the company. Aegis upgraded shares of Serve Robotics to a "strong-buy" rating in a research report on Wednesday, July 24th. LADENBURG THALM/SH SH started coverage on shares of Serve Robotics in a research report on Monday, October 28th. They issued a "buy" rating and a $16.00 price objective for the company. Finally, Northland Capmk upgraded shares of Serve Robotics to a "strong-buy" rating in a research report on Friday, October 18th. Two investment analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Strong Buy" and a consensus target price of $16.00.
Serve Robotics (NASDAQ:SERV - Get Free Report) last issued its earnings results on Tuesday, August 13th. The company reported ($0.27) earnings per share (EPS) for the quarter. Serve Robotics had a negative net margin of 2,155.86% and a negative return on equity of 728.80%. The business had revenue of $0.47 million during the quarter. On average, equities analysts predict that Serve Robotics Inc. will post -0.96 earnings per share for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of SERV. Yong Rong HK Asset Management Ltd bought a new position in Serve Robotics in the third quarter valued at approximately $9,636,000. Thomist Capital Management LP bought a new position in Serve Robotics in the second quarter valued at approximately $407,000. PFG Investments LLC bought a new position in Serve Robotics in the second quarter valued at approximately $110,000. Harbour Capital Advisors LLC bought a new position in Serve Robotics in the third quarter valued at approximately $198,000. Finally, GSA Capital Partners LLP acquired a new stake in shares of Serve Robotics in the third quarter valued at approximately $152,000.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Serve Robotics, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Serve Robotics wasn't on the list.
While Serve Robotics currently has a "Strong Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.