Serve Robotics (NASDAQ:SERV) Trading 6.8% Higher

Serve Robotics Inc. (NASDAQ:SERV)’s stock price was up 6.8% during trading on Thursday . The company traded as high as $7.54 and last traded at $7.40. Approximately 1,863,290 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 11,227,585 shares. The stock had previously closed at $6.93.

Wall Street Analysts Forecast Growth

Separately, Aegis raised Serve Robotics to a “strong-buy” rating in a report on Wednesday, July 24th.

Serve Robotics Price Performance

The stock has a fifty day simple moving average of $9.33.

Serve Robotics (NASDAQ:SERV) last posted its quarterly earnings results on Tuesday, August 13th. The company reported ($0.27) earnings per share for the quarter. The company had revenue of $0.47 million for the quarter. Serve Robotics had a negative return on equity of 728.80% and a negative net margin of 2,155.86%. As a group, research analysts predict that Serve Robotics Inc. will post -0.85 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Serve Robotics stock. Thomist Capital Management LP acquired a new position in shares of Serve Robotics Inc. (NASDAQ:SERV) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 208,910 shares of the company’s stock, valued at approximately $407,000. Thomist Capital Management LP owned about 0.56% of Serve Robotics as of its most recent filing with the Securities & Exchange Commission.

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.