Serve Robotics Target of Unusually Large Options Trading (NASDAQ:SERV)

Serve Robotics Inc. (NASDAQ:SERV) saw some unusual options trading on Thursday. Investors purchased 15,550 call options on the stock. This is an increase of 71% compared to the average volume of 9,103 call options.

Analysts Set New Price Targets

A number of research firms have issued reports on SERV. Seaport Res Ptn raised shares of Serve Robotics to a “strong-buy” rating in a research report on Monday, October 7th. LADENBURG THALM/SH SH initiated coverage on shares of Serve Robotics in a research report on Monday, October 28th. They set a “buy” rating and a $16.00 target price for the company. Northland Capmk raised Serve Robotics to a “strong-buy” rating in a research report on Friday, October 18th. Finally, Northland Securities started coverage on Serve Robotics in a report on Friday, October 18th. They issued an “outperform” rating and a $16.00 price objective for the company. Two research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Strong Buy” and an average target price of $16.00.

Serve Robotics Stock Performance

NASDAQ:SERV opened at $16.29 on Friday. Serve Robotics has a fifty-two week low of $1.77 and a fifty-two week high of $24.09. The company has a fifty day moving average of $10.83 and a two-hundred day moving average of $8.73.

Insider Activity at Serve Robotics

In other news, CEO Ali Kashani sold 9,719 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $8.77, for a total transaction 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. The trade was a 0.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James Buckly Jordan sold 64,408 shares of the firm’s stock in a transaction 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 completion of the transaction, 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 disclosure for this sale can be found here. Insiders have sold 207,422 shares of company stock valued at $2,374,854 in the last ninety days. Corporate insiders own 21.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Larson Financial Group LLC purchased a new stake in Serve Robotics during the 3rd quarter worth approximately $26,000. Bfsg LLC acquired a new stake in shares of Serve Robotics in the third quarter worth approximately $38,000. Gordian Capital Singapore Pte Ltd purchased a new stake in shares of Serve Robotics during the third quarter worth approximately $68,000. Quantum Private Wealth LLC acquired a new position in Serve Robotics in the 3rd quarter valued at $80,000. Finally, Quadrature Capital Ltd purchased a new position in Serve Robotics in the 3rd quarter valued at $148,000.

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.