Serve Robotics (NASDAQ:SERV) Now Covered by Northland Securities

Northland Securities initiated coverage on shares of Serve Robotics (NASDAQ:SERV) in a research note released on Friday, MarketBeat Ratings reports. The brokerage issued an outperform rating and a $16.00 price target on the stock.

Other equities research analysts have also issued reports about the stock. 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 research note on Wednesday, July 24th.

Serve Robotics Stock Performance

NASDAQ:SERV opened at $10.17 on Friday. Serve Robotics has a one year low of $1.77 and a one year high of $24.09. The firm has a fifty day simple moving average of $8.80.

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

Institutional Investors Weigh In On Serve Robotics

Hedge funds have recently modified their holdings of the company. Thomist Capital Management LP purchased a new stake in shares of Serve Robotics during the 2nd quarter worth about $407,000. PFG Investments LLC purchased a new stake in shares of Serve Robotics during the 2nd quarter worth about $110,000. Bfsg LLC purchased a new position in Serve Robotics in the 3rd quarter valued at about $38,000. Finally, Harbour Capital Advisors LLC purchased a new position in Serve Robotics in the 3rd quarter valued at about $198,000.

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.