Serve Robotics (NASDAQ:SERV) Trading Down 6.1%

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

Analyst Ratings Changes

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

Serve Robotics Price Performance

The business’s 50 day simple moving average is $9.33.

Serve Robotics (NASDAQ:SERV) last issued its quarterly earnings data on Tuesday, August 13th. The company reported ($0.27) earnings per share for the quarter. The company had revenue of $0.47 million for the quarter. Serve Robotics had a negative net margin of 2,155.86% and a negative return on equity of 728.80%. As a group, sell-side analysts predict that Serve Robotics Inc. will post -0.85 earnings per share for the current year.

Institutional Investors Weigh In On Serve Robotics

A hedge fund recently bought a new stake in Serve Robotics stock. Thomist Capital Management LP acquired a new position in Serve Robotics Inc. (NASDAQ:SERV) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 208,910 shares of the company’s stock, valued at approximately $407,000. Thomist Capital Management LP owned approximately 0.56% of Serve Robotics as of its most recent filing with the SEC.

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.