Serve Robotics Inc. (NASDAQ:SERV) Given Consensus Recommendation of “Strong Buy” by Analysts

Shares of Serve Robotics Inc. (NASDAQ:SERV) have been assigned a consensus rating of “Strong Buy” from the five ratings firms that are currently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $19.50.

Separately, Northland Securities set a $23.00 target price on shares of Serve Robotics in a research report on Tuesday, February 18th.

Serve Robotics Stock Up 2.2 %

Shares of SERV stock opened at $7.83 on Tuesday. The company has a 50 day moving average price of $14.19 and a 200-day moving average price of $11.58. Serve Robotics has a 52 week low of $1.77 and a 52 week high of $24.35. The firm has a market capitalization of $445.67 million and a PE ratio of -6.53.

Insider Transactions at Serve Robotics

In related news, CEO Ali Kashani sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $14.55, for a total transaction of $72,750.00. Following the completion of the transaction, the chief executive officer now directly owns 3,290,990 shares in the company, valued at approximately $47,883,904.50. The trade was a 0.15 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold 68,031 shares of company stock worth $1,245,905 in the last quarter. Company insiders own 21.40% of the company’s stock.

Institutional Trading of Serve Robotics

Institutional investors and hedge funds have recently modified their holdings of the company. Uber Technologies Inc bought a new position in Serve Robotics in the 4th quarter worth approximately $71,534,000. Exchange Traded Concepts LLC purchased a new position in shares of Serve Robotics in the 4th quarter worth approximately $9,066,000. Vanguard Group Inc. increased its position in Serve Robotics by 74.6% during the fourth quarter. Vanguard Group Inc. now owns 1,274,303 shares of the company’s stock valued at $17,203,000 after acquiring an additional 544,537 shares during the last quarter. Legal & General Group Plc bought a new position in Serve Robotics during the 4th quarter valued at about $6,629,000. Finally, Captrust Financial Advisors purchased a new stake in Serve Robotics in the 4th quarter worth about $3,672,000.

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.