Serve Robotics Inc.’s (NASDAQ:SERV) Lock-Up Period Set To Expire Tomorrow

Serve Robotics’ (NASDAQ:SERV) lock-up period is set to end on Tuesday, October 15th. Serve Robotics had issued 10,000,000 shares in its IPO on April 18th. The total size of the offering was $40,000,000 based on an initial share price of $4.00. After the expiration of Serve Robotics’ lock-up period, company insiders and major shareholders will be able to sell their shares of the company.

Analyst Ratings Changes

SERV has been the topic of several analyst reports. Seaport Res Ptn raised shares of Serve Robotics to a “strong-buy” rating in a report on Monday, October 7th. Aegis raised shares of Serve Robotics to a “strong-buy” rating in a report on Wednesday, July 24th.

Serve Robotics Stock Down 7.7 %

Shares of SERV stock opened at $8.68 on Monday. Serve Robotics has a one year low of $1.77 and a one year high of $24.09. The stock’s 50 day moving average is $9.36.

Serve Robotics (NASDAQ:SERV) last released its quarterly earnings data 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 business had revenue of $0.47 million during the quarter. Research analysts anticipate that Serve Robotics will post -0.94 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Serve Robotics stock. Thomist Capital Management LP bought a new stake in Serve Robotics Inc. (NASDAQ:SERV) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 208,910 shares of the company’s stock, valued at approximately $407,000. Thomist Capital Management LP owned 0.56% of Serve Robotics at the end of the most recent quarter.

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.