Serve Robotics (NASDAQ:SERV) Stock Price Up 6.8%

Serve Robotics Inc. (NASDAQ:SERV) rose 6.8% on Thursday . The company traded as high as $7.54 and last traded at $7.40. Approximately 1,863,290 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 11,227,585 shares. The stock had previously closed at $6.93.

Wall Street Analysts Forecast Growth

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

Serve Robotics Stock Up 5.8 %

The firm has a 50-day simple moving average of $9.10.

Serve Robotics (NASDAQ:SERV) last posted its quarterly earnings results on Tuesday, August 13th. The company reported ($0.27) earnings per share for the quarter. The business 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%. On average, equities research analysts predict that Serve Robotics Inc. will post -0.85 EPS for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Serve Robotics stock. PFG Investments LLC purchased a new position in shares of Serve Robotics Inc. (NASDAQ:SERV) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 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 SEC.

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.