Serve Robotics (NASDAQ:SERV) Raised to “Strong-Buy” at Northland Capmk

Northland Capmk upgraded shares of Serve Robotics (NASDAQ:SERV) to a strong-buy rating in a research note issued to investors on Friday, Zacks.com reports.

Several other equities analysts have also commented on the stock. Aegis raised shares of Serve Robotics to a “strong-buy” rating in a research report on Wednesday, July 24th. Northland Securities began coverage on shares of Serve Robotics in a report on Friday. They issued an “outperform” rating and a $16.00 price target for the company. Finally, Seaport Res Ptn raised Serve Robotics to a “strong-buy” rating in a research report on Monday, October 7th.

Serve Robotics Stock Performance

Shares of SERV stock opened at $9.36 on Friday. Serve Robotics has a 12-month low of $1.77 and a 12-month high of $24.09. The business’s fifty day simple moving average is $8.83.

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

Hedge Funds Weigh In On Serve Robotics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bfsg LLC acquired a new stake in Serve Robotics during the 3rd quarter valued at approximately $38,000. Harbour Capital Advisors LLC acquired a new position in Serve Robotics during the third quarter valued at $198,000. PFG Investments LLC acquired a new position in Serve Robotics during the second quarter valued at $110,000. Finally, Thomist Capital Management LP purchased a new stake in Serve Robotics in the second quarter valued at $407,000.

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.