Serve Robotics (NASDAQ:SERV) Trading Up 13.2%

Serve Robotics Inc. (NASDAQ:SERV)’s stock price shot up 13.2% during trading on Wednesday . The stock traded as high as $8.98 and last traded at $8.14. 4,753,389 shares traded hands during mid-day trading, a decline of 59% from the average session volume of 11,712,551 shares. The stock had previously closed at $7.19.

Wall Street Analyst Weigh In

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

Serve Robotics Stock Down 7.6 %

The business has a 50 day simple moving average of $8.70.

Serve Robotics (NASDAQ:SERV) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($0.27) earnings per share (EPS) for the quarter. The firm had revenue of $0.47 million for 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 forecast that Serve Robotics Inc. will post -0.85 earnings per share for the current year.

Institutional Trading of Serve Robotics

An institutional investor recently bought a new position in Serve Robotics stock. PFG Investments LLC acquired a new stake in Serve Robotics Inc. (NASDAQ:SERV) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 56,408 shares of the company’s stock, valued at approximately $110,000. PFG Investments LLC owned 0.15% 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.