Analysts Set Serve Robotics Inc. (NASDAQ:SERV) PT at $19.50

Serve Robotics Inc. (NASDAQ:SERV) has been assigned an average recommendation of “Strong Buy” from the five brokerages that are covering the firm, Marketbeat.com 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 1-year price target among analysts that have covered the stock in the last year is $19.50.

SERV has been the subject of a number of research analyst reports. Northland Securities set a $23.00 price target on shares of Serve Robotics in a research note on Tuesday, February 18th. LADENBURG THALM/SH SH initiated coverage on shares of Serve Robotics in a research note on Monday, October 28th. They issued a “buy” rating and a $16.00 price target for the company.

Serve Robotics Trading Down 8.3 %

Shares of SERV stock opened at $12.01 on Friday. The company has a 50 day moving average price of $16.55 and a 200-day moving average price of $11.88. Serve Robotics has a 52 week low of $1.77 and a 52 week high of $24.35.

Insider Activity at Serve Robotics

In related news, COO Touraj Parang sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $12.99, for a total transaction of $649,500.00. Following the completion of the sale, the chief operating officer now directly owns 1,163,439 shares in the company, valued at approximately $15,113,072.61. The trade was a 4.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Ali Kashani sold 31,791 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $11.39, for a total transaction of $362,099.49. Following the sale, the chief executive officer now owns 3,346,998 shares of the company’s stock, valued at $38,122,307.22. This trade represents a 0.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 173,978 shares of company stock worth $2,629,874. 21.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Serve Robotics

Hedge funds have recently modified their holdings of the company. Blue Trust Inc. bought a new position in shares of Serve Robotics in the fourth quarter worth approximately $27,000. CIBC Private Wealth Group LLC bought a new position in shares of Serve Robotics in the fourth quarter worth approximately $34,000. Bogart Wealth LLC bought a new position in shares of Serve Robotics in the fourth quarter worth approximately $37,000. Larson Financial Group LLC bought a new position in shares of Serve Robotics in the third quarter worth approximately $26,000. Finally, SG Americas Securities LLC bought a new position in shares of Serve Robotics in the fourth quarter worth approximately $114,000.

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.