Northland Securities Initiates Coverage on Serve Robotics (NASDAQ:SERV)

Equities research analysts at Northland Securities began coverage on shares of Serve Robotics (NASDAQ:SERV) in a report issued on Friday, Marketbeat.com reports. The brokerage set an “outperform” rating and a $16.00 price target on the stock. Northland Securities’ price objective would suggest a potential upside of 70.94% from the stock’s previous close.

SERV has been the subject of several other research reports. Aegis raised shares of Serve Robotics to a “strong-buy” rating in a research note on Wednesday, July 24th. Seaport Res Ptn upgraded shares of Serve Robotics to a “strong-buy” rating in a research report on Monday, October 7th.

Serve Robotics Trading Up 9.3 %

SERV opened at $9.36 on Friday. The firm’s 50 day moving average is $8.83. Serve Robotics has a one year low of $1.77 and a one year high of $24.09.

Serve Robotics (NASDAQ:SERV) last posted its quarterly earnings results on Tuesday, August 13th. The company reported ($0.27) earnings per share (EPS) for the quarter. The firm 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%. As a group, equities analysts anticipate that Serve Robotics will post -0.94 EPS for the current fiscal year.

Institutional Inflows and Outflows

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

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.