Serve Robotics (NASDAQ:SERV) Research Coverage Started at LADENBURG THALM/SH SH

LADENBURG THALM/SH SH initiated coverage on shares of Serve Robotics (NASDAQ:SERV) in a research report sent to investors on Monday, Marketbeat.com reports. The brokerage issued a buy rating and a $16.00 price target on the stock.

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

Serve Robotics Trading Down 2.7 %

Shares of Serve Robotics stock opened at $11.37 on Monday. The company has a fifty day simple moving average of $8.70. Serve Robotics has a 52 week low of $1.77 and a 52 week high of $24.09.

Serve Robotics (NASDAQ:SERV) last posted its quarterly earnings results on Tuesday, August 13th. The company reported ($0.27) EPS for the quarter. The business had revenue of $0.47 million during the quarter. Serve Robotics had a negative return on equity of 728.80% and a negative net margin of 2,155.86%. Equities analysts forecast that Serve Robotics will post -0.95 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Serve Robotics

Hedge funds and other institutional investors have recently made changes to their positions in the business. PFG Investments LLC purchased a new stake in shares of Serve Robotics during the 2nd quarter valued at $110,000. Thomist Capital Management LP acquired a new position in Serve Robotics during the 2nd quarter worth $407,000. Bfsg LLC bought a new position in Serve Robotics during the 3rd quarter worth approximately $38,000. Harbour Capital Advisors LLC acquired a new position in Serve Robotics in the third quarter worth $198,000. Finally, Yong Rong HK Asset Management Ltd acquired a new stake in shares of Serve Robotics during the third quarter worth $9,636,000.

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.