Serve Robotics Sees Unusually High Options Volume (NASDAQ:SERV)

Serve Robotics Inc. (NASDAQ:SERV) saw unusually large options trading activity on Friday. Stock investors acquired 17,465 call options on the company. This is an increase of 53% compared to the typical daily volume of 11,390 call options.

Serve Robotics Stock Performance

Serve Robotics stock opened at $19.26 on Friday. Serve Robotics has a 12 month low of $1.77 and a 12 month high of $24.35. The company’s fifty day simple moving average is $13.70 and its 200-day simple moving average is $10.75.

Serve Robotics (NASDAQ:SERV) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.20) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.20). Serve Robotics had a negative return on equity of 184.60% and a negative net margin of 1,972.12%. The company had revenue of $0.22 million during the quarter, compared to the consensus estimate of $0.36 million. On average, analysts forecast that Serve Robotics will post -0.98 EPS for the current year.

Insiders Place Their Bets

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 value of $551,976.56. Following the sale, the director now directly owns 449,052 shares in the company, valued at $3,848,375.64. The trade was a 12.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ali Kashani sold 9,719 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $8.77, for a total transaction of $85,235.63. Following the sale, the chief executive officer now owns 3,355,238 shares of the company’s stock, valued at $29,425,437.26. The trade was a 0.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 253,027 shares of company stock valued at $3,309,166. Company insiders own 21.40% of the company’s stock.

Institutional Trading of Serve Robotics

A number of institutional investors have recently added to or reduced their stakes in the business. Blue Trust Inc. bought a new position in shares of Serve Robotics during the 4th quarter valued at $27,000. Exchange Traded Concepts LLC acquired a new position in Serve Robotics during the fourth quarter worth $9,066,000. One Wealth Management Investment & Advisory Services LLC bought a new position in Serve Robotics during the fourth quarter valued at about $154,000. SG Americas Securities LLC acquired a new stake in shares of Serve Robotics in the fourth quarter worth about $114,000. Finally, Atomi Financial Group Inc. bought a new stake in shares of Serve Robotics during the 4th quarter worth about $209,000.

Analyst Upgrades and Downgrades

SERV has been the subject of several recent analyst reports. Northland Securities raised their target price on shares of Serve Robotics from $16.00 to $23.00 and gave the stock an “outperform” rating in a report on Wednesday, January 15th. LADENBURG THALM/SH SH started coverage on shares of Serve Robotics in a research note on Monday, October 28th. They issued a “buy” rating and a $16.00 price objective for the company. Northland Capmk raised Serve Robotics to a “strong-buy” rating in a research report on Friday, October 18th. Finally, Seaport Res Ptn raised Serve Robotics to a “strong-buy” rating in a research note on Monday, October 7th. Two investment analysts have rated the stock with a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Strong Buy” and an average price target of $19.50.

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.