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

Shares of Serve Robotics Inc. (NASDAQ:SERV) have received an average rating of “Strong Buy” from the five ratings firms that are presently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $16.00.

Several research analysts have weighed in on the stock. Aegis upgraded shares of Serve Robotics to a “strong-buy” rating in a research report on Wednesday, July 24th. Northland Capmk raised Serve Robotics to a “strong-buy” rating in a report on Friday, October 18th. Seaport Res Ptn raised Serve Robotics to a “strong-buy” rating in a research note on Monday, October 7th. Northland Securities started coverage on shares of Serve Robotics in a report on Friday, October 18th. They issued an “outperform” rating and a $16.00 target price for the company. Finally, LADENBURG THALM/SH SH initiated coverage on shares of Serve Robotics in a research report on Monday, October 28th. They set a “buy” rating and a $16.00 price objective on the stock.

Institutional Investors Weigh In On Serve Robotics

A number of institutional investors have recently added to or reduced their stakes in the stock. Yong Rong HK Asset Management Ltd bought a new position in shares of Serve Robotics during the third quarter worth $9,636,000. Thomist Capital Management LP bought a new position in shares of Serve Robotics during the 2nd quarter valued at about $407,000. PFG Investments LLC purchased a new position in shares of Serve Robotics during the second quarter valued at about $110,000. Harbour Capital Advisors LLC bought a new stake in shares of Serve Robotics in the third quarter worth about $198,000. Finally, GSA Capital Partners LLP purchased a new stake in shares of Serve Robotics in the third quarter worth about $152,000.

Serve Robotics Stock Performance

SERV stock opened at $8.62 on Wednesday. The firm has a 50-day moving average price of $8.79. Serve Robotics has a fifty-two week low of $1.77 and a fifty-two week high of $24.09.

Serve Robotics (NASDAQ:SERV) last issued its quarterly earnings data on Tuesday, August 13th. The company reported ($0.27) earnings per share for the quarter. The business had revenue of $0.47 million during the quarter. Serve Robotics had a negative return on equity of 636.19% and a negative net margin of 1,972.12%. On average, equities analysts predict that Serve Robotics will post -0.96 earnings per share for the current year.

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.