Analysts Set Serve Robotics Inc. (NASDAQ:SERV) Target Price at $16.00

Shares of Serve Robotics Inc. (NASDAQ:SERV) have received a consensus recommendation of “Strong Buy” from the five analysts that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a buy recommendation and three have assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $16.00.

SERV has been the subject of a number of recent analyst reports. Northland Capmk upgraded shares of Serve Robotics to a “strong-buy” rating in a research report on Friday, October 18th. Northland Securities initiated coverage on Serve Robotics in a research report on Friday, October 18th. They set an “outperform” rating and a $16.00 price target for the company. Seaport Res Ptn upgraded shares of Serve Robotics to a “strong-buy” rating in a research report on Monday, October 7th. Finally, LADENBURG THALM/SH SH started coverage on shares of Serve Robotics in a research report on Monday, October 28th. They set a “buy” rating and a $16.00 target price for the company.

Serve Robotics Price Performance

Shares of Serve Robotics stock opened at $19.03 on Thursday. The company’s 50-day moving average price is $11.39 and its 200-day moving average price is $9.23. Serve Robotics has a 12-month low of $1.77 and a 12-month high of $24.09.

Insiders Place Their Bets

In other news, Director James Buckly Jordan sold 64,408 shares of the stock in a transaction dated 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 sale, the director now directly owns 449,052 shares in the company, valued at approximately $3,848,375.64. This represents a 12.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Ali Kashani sold 7,500 shares of the company’s stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $16.50, for a total value of $123,750.00. Following the transaction, the chief executive officer now owns 3,283,490 shares of the company’s stock, valued at approximately $54,177,585. This represents a 0.23 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 207,462 shares of company stock valued at $2,375,472. 21.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Larson Financial Group LLC purchased a new position in Serve Robotics in the 3rd quarter worth approximately $26,000. Bfsg LLC bought a new position in shares of Serve Robotics during the third quarter valued at $38,000. Gordian Capital Singapore Pte Ltd purchased a new stake in shares of Serve Robotics during the third quarter valued at $68,000. Quantum Private Wealth LLC bought a new stake in Serve Robotics in the 3rd quarter worth about $80,000. Finally, Quadrature Capital Ltd purchased a new position in Serve Robotics in the 3rd quarter worth about $148,000.

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.