Serve Robotics (NASDAQ:SERV) Shares Down 6.1%

Serve Robotics Inc. (NASDAQ:SERV)’s share price was down 6.1% during mid-day trading on Monday . The company traded as low as $7.95 and last traded at $8.14. Approximately 1,839,130 shares were traded during trading, a decline of 84% from the average daily volume of 11,174,065 shares. The stock had previously closed at $8.67.

Wall Street Analysts Forecast Growth

Separately, Aegis raised shares of Serve Robotics to a “strong-buy” rating in a report on Wednesday, July 24th.

Serve Robotics Trading Up 3.5 %

The company has a 50-day moving average price of $9.65.

Serve Robotics (NASDAQ:SERV) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($0.27) EPS for the quarter. The company had revenue of $0.47 million during the quarter. Serve Robotics had a negative net margin of 2,155.86% and a negative return on equity of 728.80%. Research analysts anticipate that Serve Robotics Inc. will post -0.85 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Serve Robotics

An institutional investor recently bought a new position in Serve Robotics stock. PFG Investments LLC purchased a new stake in Serve Robotics Inc. (NASDAQ:SERV) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 56,408 shares of the company’s stock, valued at approximately $110,000. PFG Investments LLC owned 0.15% of Serve Robotics at the end of the most recent reporting period.

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.