Northland Securities Issues Positive Forecast for Serve Robotics (NASDAQ:SERV) Stock Price

Serve Robotics (NASDAQ:SERV) had its price target lifted by Northland Securities from $16.00 to $23.00 in a report published on Wednesday,Benzinga reports. Northland Securities currently has an outperform rating on the stock.

Other equities analysts also recently issued reports about the stock. Seaport Res Ptn upgraded shares of Serve Robotics to a “strong-buy” rating in a report on Monday, October 7th. LADENBURG THALM/SH SH began coverage on Serve Robotics in a research note on Monday, October 28th. They set a “buy” rating and a $16.00 target price on the stock. Finally, Northland Capmk upgraded Serve Robotics to a “strong-buy” rating in a report on Friday, October 18th. Two analysts have rated the stock with a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Strong Buy” and an average price target of $19.50.

Serve Robotics Trading Down 3.3 %

SERV stock opened at $18.26 on Wednesday. Serve Robotics has a twelve month low of $1.77 and a twelve month high of $24.35. The firm’s fifty day simple moving average is $12.73 and its two-hundred day simple moving average is $10.19.

Insider Buying and Selling

In related news, CEO Ali Kashani sold 37,500 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $21.16, for a total value of $793,500.00. Following the transaction, the chief executive officer now owns 3,230,990 shares of the company’s stock, valued at $68,367,748.40. This represents a 1.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction, the director now owns 449,052 shares in the company, valued at $3,848,375.64. The trade was a 12.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 253,027 shares of company stock valued at $3,309,166 in the last 90 days. Company insiders own 21.40% of the company’s stock.

Institutional Trading of Serve Robotics

Several institutional investors and hedge funds have recently made changes to their positions in SERV. Yong Rong HK Asset Management Ltd bought a new position in Serve Robotics during the 3rd quarter worth about $9,636,000. Thomist Capital Management LP purchased a new stake in shares of Serve Robotics in the 2nd quarter worth approximately $407,000. Geode Capital Management LLC lifted 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 during the period. Harbour Capital Advisors LLC boosted its stake in shares of Serve Robotics by 102.4% during the fourth quarter. Harbour Capital Advisors LLC now owns 50,365 shares of the company’s stock valued at $680,000 after purchasing an additional 25,475 shares in the last quarter. Finally, State Street Corp purchased a new position in Serve Robotics during the third quarter valued at approximately $333,000.

About Serve Robotics

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.