Atomi Financial Group Inc. Takes $209,000 Position in Serve Robotics Inc. (NASDAQ:SERV)

Atomi Financial Group Inc. acquired a new position in Serve Robotics Inc. (NASDAQ:SERV) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 15,474 shares of the company’s stock, valued at approximately $209,000.

Other large investors have also recently modified their holdings of the company. State Street Corp purchased a new position in Serve Robotics in the third quarter worth $333,000. Geode Capital Management LLC boosted its position in shares of Serve Robotics by 128.1% in the 3rd quarter. Geode Capital Management LLC now owns 130,853 shares of the company’s stock worth $1,041,000 after purchasing an additional 73,496 shares in the last quarter. Yong Rong HK Asset Management Ltd purchased a new position in Serve Robotics during the 3rd quarter worth $9,636,000. Bfsg LLC acquired a new position in Serve Robotics during the 3rd quarter valued at about $38,000. Finally, GSA Capital Partners LLP acquired a new stake in Serve Robotics in the third quarter worth about $152,000.

Serve Robotics Stock Down 14.0 %

SERV stock opened at $16.57 on Tuesday. The firm’s fifty day simple moving average is $13.92 and its 200-day simple moving average is $10.99. Serve Robotics Inc. has a 12 month low of $1.77 and a 12 month high of $24.35.

Serve Robotics (NASDAQ:SERV) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.20) earnings per share for the quarter, hitting the consensus estimate of ($0.20). The company had revenue of $0.22 million for the quarter, compared to the consensus estimate 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 Inc. will post -0.98 EPS for the current fiscal year.

Insider Activity at Serve Robotics

In other news, Director James Buckly Jordan sold 64,408 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 449,052 shares of the company’s stock, valued at $3,848,375.64. This trade represents a 12.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ali Kashani sold 31,791 shares of Serve Robotics stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $11.39, for a total transaction of $362,099.49. Following the transaction, the chief executive officer now directly owns 3,346,998 shares of the company’s stock, valued at approximately $38,122,307.22. This trade represents a 0.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 253,027 shares of company stock worth $3,309,166. 21.40% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on SERV shares. Northland Securities upped their price objective on shares of Serve Robotics from $16.00 to $23.00 and gave the company an “outperform” rating in a report on Wednesday, January 15th. Seaport Res Ptn upgraded shares of Serve Robotics to a “strong-buy” rating in a research note on Monday, October 7th. Northland Capmk upgraded shares of Serve Robotics to a “strong-buy” rating in a research note on Friday, October 18th. Finally, LADENBURG THALM/SH SH began coverage on Serve Robotics in a research report on Monday, October 28th. They issued a “buy” rating and a $16.00 target price on the stock. Two investment analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Strong Buy” and an average target price of $19.50.

Serve Robotics 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.