Serve Robotics (NASDAQ:SERV) Shares Up 4.4% – Time to Buy?

Serve Robotics Inc. (NASDAQ:SERV) was up 4.4% during mid-day trading on Friday . The stock traded as high as $10.10 and last traded at $9.96. Approximately 1,585,839 shares traded hands during trading, a decline of 84% from the average daily volume of 9,822,045 shares. The stock had previously closed at $9.54.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on SERV shares. Northland Securities started coverage on shares of Serve Robotics in a research note on Friday, October 18th. They set an “outperform” rating and a $16.00 price objective on the stock. Northland Capmk upgraded shares of Serve Robotics to a “strong-buy” rating in a research note on Friday, October 18th. Aegis raised shares of Serve Robotics to a “strong-buy” rating in a report on Wednesday, July 24th. Finally, Seaport Res Ptn raised shares of Serve Robotics to a “strong-buy” rating in a report on Monday, October 7th.

Serve Robotics Trading Up 4.0 %

The business’s fifty day moving average is $8.71.

Serve Robotics (NASDAQ:SERV) last announced its earnings results on Tuesday, August 13th. The company reported ($0.27) EPS for the quarter. Serve Robotics had a negative net margin of 2,155.86% and a negative return on equity of 728.80%. The business had revenue of $0.47 million for the quarter. Analysts predict that Serve Robotics Inc. will post -0.95 EPS for the current fiscal year.

Institutional Trading of Serve Robotics

A number of hedge funds and other institutional investors have recently modified their holdings of SERV. PFG Investments LLC purchased a new stake in shares of Serve Robotics in the second quarter worth $110,000. Thomist Capital Management LP bought a new position in shares of Serve Robotics during the second quarter worth $407,000. Bfsg LLC bought a new position in shares of Serve Robotics during the third quarter worth $38,000. Finally, Harbour Capital Advisors LLC bought a new position in shares of Serve Robotics during the third quarter worth $198,000.

About Serve Robotics

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.