Serve Robotics (NASDAQ:SERV) Shares Up 27.8%

Serve Robotics Inc. (NASDAQ:SERV)’s share price shot up 27.8% during trading on Tuesday . The stock traded as high as $17.79 and last traded at $17.41. 11,367,509 shares traded hands during mid-day trading, a decline of 8% from the average session volume of 12,292,055 shares. The stock had previously closed at $13.62.

Analysts Set New Price Targets

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

Serve Robotics Price Performance

The company’s 50-day moving average is $5.40.

Serve Robotics (NASDAQ:SERV) last announced its earnings results on Wednesday, May 15th. The company reported ($0.37) earnings per share (EPS) for the quarter. The firm had revenue of $0.95 million during the quarter. As a group, analysts expect that Serve Robotics Inc. will post -0.86 earnings per share for the current year.

Institutional Inflows and Outflows

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) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 56,408 shares of the company’s stock, valued at approximately $110,000. PFG Investments LLC owned approximately 0.15% of Serve Robotics as of its most recent filing with the Securities and Exchange Commission.

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.