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

Serve Robotics Inc. (NASDAQ:SERV) has been assigned a consensus rating of “Strong Buy” from the five analysts that are presently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a buy recommendation and three have given a strong buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $19.50.

SERV has been the subject of a number of research reports. Northland Capmk upgraded Serve Robotics to a “strong-buy” rating in a research note on Friday, October 18th. Seaport Res Ptn upgraded shares of Serve Robotics to a “strong-buy” rating in a research note on Monday, October 7th. LADENBURG THALM/SH SH began coverage on shares of Serve Robotics in a research note on Monday, October 28th. They issued a “buy” rating and a $16.00 price objective on the stock. Finally, Northland Securities increased their target price on shares of Serve Robotics from $16.00 to $23.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 15th.

Serve Robotics Trading Up 8.1 %

Shares of NASDAQ:SERV opened at $19.26 on Monday. Serve Robotics has a 12 month low of $1.77 and a 12 month high of $24.35. The company’s fifty day moving average price is $13.92 and its 200 day moving average price is $10.93.

Serve Robotics (NASDAQ:SERV) last posted its earnings results on Thursday, November 7th. The company reported ($0.20) EPS for the quarter, hitting analysts’ consensus estimates of ($0.20). The business had revenue of $0.22 million for the quarter, compared to analysts’ expectations 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, analysts anticipate that Serve Robotics will post -0.98 EPS for the current fiscal year.

Insider Buying and Selling at Serve Robotics

In other Serve Robotics news, CEO Ali Kashani sold 9,719 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $8.77, for a total transaction of $85,235.63. Following the transaction, the chief executive officer now owns 3,355,238 shares in the company, valued at approximately $29,425,437.26. The trade was a 0.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 value of $551,976.56. Following the completion of the sale, the director now directly owns 449,052 shares of the company’s stock, valued at $3,848,375.64. This represents a 12.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 253,027 shares of company stock valued at $3,309,166. 21.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Serve Robotics

Several institutional investors have recently made changes to their positions in SERV. Blue Trust Inc. acquired a new stake in shares of Serve Robotics in the fourth quarter valued at about $27,000. Larson Financial Group LLC purchased a new position in Serve Robotics in the third quarter valued at about $26,000. Bfsg LLC purchased a new position in Serve Robotics in the third quarter valued at about $38,000. SG Americas Securities LLC acquired a new stake in shares of Serve Robotics during the 4th quarter valued at approximately $114,000. Finally, Gordian Capital Singapore Pte Ltd purchased a new stake in shares of Serve Robotics during the 3rd quarter worth approximately $68,000.

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.