Serve Robotics Target of Unusually High Options Trading (NASDAQ:SERV)

Serve Robotics Inc. (NASDAQ:SERV) was the recipient of unusually large options trading on Thursday. Investors purchased 15,550 call options on the stock. This represents an increase of 71% compared to the typical volume of 9,103 call options.

Serve Robotics Stock Performance

NASDAQ SERV opened at $17.64 on Friday. Serve Robotics has a one year low of $1.77 and a one year high of $24.09. The firm’s fifty day moving average is $10.69 and its two-hundred day moving average is $8.64.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on SERV shares. LADENBURG THALM/SH SH assumed coverage on shares of Serve Robotics in a research report on Monday, October 28th. They set a “buy” rating and a $16.00 price target for the company. Northland Capmk raised Serve Robotics to a “strong-buy” rating in a research note on Friday, October 18th. Northland Securities began coverage on Serve Robotics in a research note on Friday, October 18th. They issued an “outperform” rating and a $16.00 price objective for the company. Finally, Seaport Res Ptn raised Serve Robotics to a “strong-buy” rating in a report on Monday, October 7th. Two equities research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Strong Buy” and a consensus target price of $16.00.

Insider Transactions at Serve Robotics

In other news, Director James Buckly Jordan sold 64,408 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $8.57, for a total transaction of $551,976.56. Following the sale, the director now directly owns 449,052 shares in the company, valued at $3,848,375.64. This trade represents a 12.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ali Kashani sold 9,719 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $8.77, for a total value of $85,235.63. Following the completion of the sale, the chief executive officer now owns 3,355,238 shares of the company’s stock, valued at $29,425,437.26. This trade represents a 0.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 194,922 shares of company stock worth $2,178,354 over the last three months. 21.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Larson Financial Group LLC acquired a new position in Serve Robotics during the 3rd quarter worth approximately $26,000. Bfsg LLC acquired a new stake in shares of Serve Robotics during the third quarter valued at $38,000. Gordian Capital Singapore Pte Ltd purchased a new stake in Serve Robotics in the 3rd quarter worth approximately $68,000. Quantum Private Wealth LLC purchased a new stake in Serve Robotics in the 3rd quarter valued at about $80,000. Finally, PFG Investments LLC purchased a new stake in shares of Serve Robotics during the 2nd 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.