Serve Robotics Inc. (NASDAQ:SERV) Receives Consensus Rating of “Strong Buy” from Brokerages

Serve Robotics Inc. (NASDAQ:SERV) has been given an average recommendation of “Strong Buy” by the five research firms that are presently covering the stock, 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 12 month target price among brokerages that have covered the stock in the last year is $19.50.

Separately, Northland Securities set a $23.00 price objective on Serve Robotics in a research note on Tuesday, February 18th.

Serve Robotics Trading Up 11.1 %

Shares of NASDAQ SERV opened at $7.79 on Tuesday. Serve Robotics has a 12-month low of $1.77 and a 12-month high of $24.35. The company has a market cap of $443.39 million and a PE ratio of -6.49. The stock has a 50 day simple moving average of $13.20 and a 200-day simple moving average of $11.55.

Insider Transactions at Serve Robotics

In other news, CEO Ali Kashani sold 7,500 shares of Serve Robotics stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $16.50, for a total transaction of $123,750.00. Following the completion of the sale, the chief executive officer now directly owns 3,283,490 shares in the company, valued at $54,177,585. The trade was a 0.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 62,051 shares of company stock valued at $1,134,921 over the last quarter. Company insiders own 21.40% of the company’s stock.

Institutional Investors Weigh In On Serve Robotics

Institutional investors and hedge funds have recently modified their holdings of the business. Blue Trust Inc. acquired a new position in Serve Robotics during the fourth quarter worth $27,000. CIBC Private Wealth Group LLC bought a new stake in shares of Serve Robotics during the 4th quarter worth about $34,000. Bogart Wealth LLC acquired a new position in shares of Serve Robotics during the 4th quarter valued at about $37,000. Larson Financial Group LLC bought a new position in shares of Serve Robotics in the 3rd quarter valued at approximately $26,000. Finally, SG Americas Securities LLC acquired a new stake in Serve Robotics in the 4th quarter worth approximately $114,000.

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.