Serve Robotics (NASDAQ:SERV) Shares Down 6.1%

Serve Robotics Inc. (NASDAQ:SERV)’s share price was down 6.1% during trading on Monday . The company traded as low as $7.95 and last traded at $8.14. Approximately 1,839,130 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 11,174,065 shares. The stock had previously closed at $8.67.

Wall Street Analyst Weigh In

Separately, Aegis raised Serve Robotics to a “strong-buy” rating in a research note on Wednesday, July 24th.

Serve Robotics Stock Up 3.5 %

The firm’s fifty day simple moving average is $9.65.

Serve Robotics (NASDAQ:SERV) last released its quarterly earnings data on Tuesday, August 13th. The company reported ($0.27) earnings per share 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%. As a group, equities analysts predict that Serve Robotics Inc. will post -0.85 EPS for the current fiscal year.

Hedge Funds Weigh In On Serve Robotics

An institutional investor recently bought a new position in Serve Robotics stock. Thomist Capital Management LP bought a new position in shares of Serve Robotics Inc. (NASDAQ:SERV) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 208,910 shares of the company’s stock, valued at approximately $407,000. Thomist Capital Management LP owned 0.56% of Serve Robotics at the end of the most recent reporting period.

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.