LADENBURG THALM/SH SH Begins Coverage on Serve Robotics (NASDAQ:SERV)

LADENBURG THALM/SH SH assumed coverage on shares of Serve Robotics (NASDAQ:SERV) in a note issued to investors on Monday, Marketbeat.com reports. The firm set a “buy” rating and a $16.00 price target on the stock. LADENBURG THALM/SH SH’s target price points to a potential upside of 36.99% from the company’s previous close.

SERV has been the subject of several other reports. Northland Securities began coverage on Serve Robotics in a research note on Friday, October 18th. They set an “outperform” rating and a $16.00 target price for the company. Northland Capmk upgraded shares of Serve Robotics to a “strong-buy” rating in a research note on Friday, October 18th. Aegis upgraded shares of Serve Robotics to a “strong-buy” rating in a research note on Wednesday, July 24th. Finally, Seaport Res Ptn raised shares of Serve Robotics to a “strong-buy” rating in a research report on Monday, October 7th. Two research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Strong Buy” and an average target price of $16.00.

Serve Robotics Stock Down 1.0 %

NASDAQ SERV opened at $11.68 on Monday. The company has a 50 day simple moving average of $8.69. Serve Robotics has a one year low of $1.77 and a one year high of $24.09.

Serve Robotics (NASDAQ:SERV) last issued 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. Equities research analysts anticipate that Serve Robotics will post -0.95 earnings per share for the current year.

Institutional Investors Weigh In On Serve Robotics

Several institutional investors have recently added to or reduced their stakes in SERV. Yong Rong HK Asset Management Ltd acquired a new stake in Serve Robotics during the third quarter worth approximately $9,636,000. Harbour Capital Advisors LLC purchased a new position in shares of Serve Robotics in the 3rd quarter valued at $198,000. Bfsg LLC acquired a new stake in Serve Robotics during the 3rd quarter worth $38,000. Thomist Capital Management LP purchased a new stake in Serve Robotics in the second quarter valued at $407,000. Finally, PFG Investments LLC acquired a new position in Serve Robotics in the second quarter valued at $110,000.

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.