Brokerages Set Serve Robotics Inc. (NASDAQ:SERV) PT at $16.00

Shares of Serve Robotics Inc. (NASDAQ:SERV) have been assigned an average recommendation of “Strong Buy” from the five brokerages that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a buy recommendation and three have issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $16.00.

A number of brokerages have recently issued reports on SERV. Seaport Res Ptn raised Serve Robotics to a “strong-buy” rating in a report on Monday, October 7th. Northland Capmk raised Serve Robotics to a “strong-buy” rating in a report on Friday, October 18th. LADENBURG THALM/SH SH began coverage on Serve Robotics in a report on Monday, October 28th. They set a “buy” rating and a $16.00 price target on the stock. Finally, Northland Securities started coverage on Serve Robotics in a report on Friday, October 18th. They set an “outperform” rating and a $16.00 price target on the stock.

Insider Buying and Selling at Serve Robotics

In other Serve Robotics news, CEO Ali Kashani sold 7,500 shares of the company’s stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $16.50, for a total value of $123,750.00. Following the completion of the sale, the chief executive officer now owns 3,283,490 shares in the company, valued at $54,177,585. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director James Buckly Jordan sold 64,408 shares of the company’s stock in a transaction dated 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 sale, the director now owns 449,052 shares of the company’s stock, valued at approximately $3,848,375.64. The trade was a 12.54 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 207,462 shares of company stock valued at $2,375,472. 21.40% of the stock is owned by company insiders.

Institutional Trading of Serve Robotics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Larson Financial Group LLC purchased a new stake in Serve Robotics in the third quarter worth about $26,000. Bfsg LLC purchased a new stake in Serve Robotics in the third quarter worth about $38,000. Gordian Capital Singapore Pte Ltd purchased a new stake in Serve Robotics in the third quarter worth about $68,000. Quantum Private Wealth LLC purchased a new stake in shares of Serve Robotics during the third quarter worth about $80,000. Finally, Quadrature Capital Ltd purchased a new stake in shares of Serve Robotics during the third quarter worth about $148,000.

Serve Robotics Stock Up 20.3 %

Shares of NASDAQ:SERV opened at $22.89 on Thursday. Serve Robotics has a 1 year low of $1.77 and a 1 year high of $24.35. The stock’s fifty day moving average price is $11.61 and its 200-day moving average price is $9.43.

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.