Analysts Set Serve Robotics Inc. (NASDAQ:SERV) Price Target at $16.00

Shares of Serve Robotics Inc. (NASDAQ:SERV) have received a consensus recommendation of “Strong Buy” from the five ratings firms that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a buy recommendation and three have given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $16.00.

SERV has been the subject of several analyst reports. Seaport Res Ptn raised shares of Serve Robotics to a “strong-buy” rating in a report on Monday, October 7th. Northland Securities initiated coverage on shares of Serve Robotics in a research note on Friday, October 18th. They issued an “outperform” rating and a $16.00 price objective for the company. LADENBURG THALM/SH SH began coverage on shares of Serve Robotics in a research note on Monday, October 28th. They set a “buy” rating and a $16.00 target price on the stock. Finally, Northland Capmk raised shares of Serve Robotics to a “strong-buy” rating in a report on Friday, October 18th.

Serve Robotics Price Performance

SERV opened at $19.03 on Thursday. Serve Robotics has a 12-month low of $1.77 and a 12-month high of $24.09. The company’s 50 day moving average is $11.39 and its 200 day moving average is $9.23.

Insider Buying and Selling at Serve Robotics

In related news, CEO Ali Kashani sold 9,719 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $8.77, for a total transaction of $85,235.63. Following the transaction, the chief executive officer now directly owns 3,355,238 shares of the company’s stock, valued at $29,425,437.26. This represents a 0.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director James Buckly Jordan sold 64,408 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $8.57, for a total value of $551,976.56. Following the completion of the sale, the director now directly owns 449,052 shares of the company’s stock, valued at approximately $3,848,375.64. This represents a 12.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 207,462 shares of company stock valued at $2,375,472 in the last three months. Company insiders own 21.40% of the company’s stock.

Hedge Funds Weigh In On Serve Robotics

Several hedge funds and other institutional investors have recently modified their holdings of SERV. PFG Investments LLC purchased a new position in shares of Serve Robotics in the second quarter worth $110,000. Thomist Capital Management LP purchased a new position in Serve Robotics in the 2nd quarter worth $407,000. Bfsg LLC acquired a new stake in Serve Robotics during the 3rd quarter worth about $38,000. Harbour Capital Advisors LLC purchased a new stake in Serve Robotics during the 3rd quarter valued at about $198,000. Finally, Yong Rong HK Asset Management Ltd purchased a new stake in Serve Robotics during the 3rd quarter valued at about $9,636,000.

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.