Serve Robotics (NASDAQ:SERV) Stock Price Expected to Rise, Northland Securities Analyst Says

Serve Robotics (NASDAQ:SERV) had its target price boosted by stock analysts at Northland Securities from $16.00 to $23.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Northland Securities’ price objective points to a potential upside of 21.82% from the stock’s current price.

Other analysts also recently issued research reports about the company. Northland Capmk upgraded Serve Robotics to a “strong-buy” rating in a research report on Friday, October 18th. LADENBURG THALM/SH SH began coverage on shares of Serve Robotics in a research note on Monday, October 28th. They set a “buy” rating and a $16.00 price target on the stock. Finally, Seaport Res Ptn raised shares of Serve Robotics to a “strong-buy” rating in a report on Monday, October 7th. Two analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Strong Buy” and an average target price of $19.50.

Serve Robotics Trading Up 2.1 %

NASDAQ SERV opened at $18.88 on Wednesday. Serve Robotics has a twelve month low of $1.77 and a twelve month high of $24.35. The firm has a 50-day simple moving average of $12.57 and a 200 day simple moving average of $10.13.

Insider Transactions at Serve Robotics

In related news, Director James Buckly Jordan sold 64,408 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $8.57, for a total transaction of $551,976.56. Following the completion of the transaction, the director now owns 449,052 shares in the company, valued at approximately $3,848,375.64. The trade was a 12.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Touraj Parang sold 50,000 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $12.99, for a total transaction of $649,500.00. Following the completion of the sale, the chief operating officer now owns 1,163,439 shares in the company, valued at approximately $15,113,072.61. This trade represents a 4.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 253,027 shares of company stock valued at $3,309,166. Corporate insiders own 21.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SERV. Harbour Capital Advisors LLC raised its position in shares of Serve Robotics by 102.4% during the fourth quarter. Harbour Capital Advisors LLC now owns 50,365 shares of the company’s stock worth $680,000 after purchasing an additional 25,475 shares during the period. Tidal Investments LLC acquired a new stake in Serve Robotics during the 3rd quarter worth approximately $262,000. Geode Capital Management LLC raised its holdings in Serve Robotics by 128.1% during the 3rd quarter. Geode Capital Management LLC now owns 130,853 shares of the company’s stock worth $1,041,000 after buying an additional 73,496 shares during the period. Gordian Capital Singapore Pte Ltd bought a new position in Serve Robotics in the third quarter valued at approximately $68,000. Finally, State Street Corp acquired a new position in shares of Serve Robotics in the third quarter valued at approximately $333,000.

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.