Northland Securities Begins Coverage on Serve Robotics (NASDAQ:SERV)

Northland Securities assumed coverage on shares of Serve Robotics (NASDAQ:SERV) in a research report issued to clients and investors on Friday, Briefing.com reports. The brokerage set an “outperform” rating and a $16.00 price target on the stock. Northland Securities’ price target indicates a potential upside of 86.92% from the company’s current price.

Other analysts have also recently issued reports about the company. Aegis upgraded Serve Robotics to a “strong-buy” rating in a research report on Wednesday, July 24th. Seaport Res Ptn upgraded shares of Serve Robotics to a “strong-buy” rating in a research report on Monday, October 7th.

Serve Robotics Trading Down 4.9 %

Shares of NASDAQ SERV opened at $8.56 on Friday. The business’s fifty day moving average price is $8.91. Serve Robotics has a 1 year low of $1.77 and a 1 year high of $24.09.

Serve Robotics (NASDAQ:SERV) last posted its earnings results on Tuesday, August 13th. The company reported ($0.27) earnings per share (EPS) for the quarter. Serve Robotics had a negative return on equity of 728.80% and a negative net margin of 2,155.86%. The firm had revenue of $0.47 million for the quarter. On average, research analysts anticipate that Serve Robotics will post -0.94 EPS for the current year.

Hedge Funds Weigh In On Serve Robotics

Hedge funds have recently made changes to their positions in the company. Thomist Capital Management LP acquired a new stake in shares of Serve Robotics in the second quarter worth approximately $407,000. PFG Investments LLC acquired a new stake in Serve Robotics during the 2nd quarter worth $110,000. Harbour Capital Advisors LLC purchased a new stake in shares of Serve Robotics during the third quarter worth $198,000. Finally, Bfsg LLC purchased a new stake in shares of Serve Robotics during the third quarter worth $38,000.

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.