Serve Robotics (NASDAQ:SERV) Rating Increased to Strong-Buy at Northland Capmk

Serve Robotics (NASDAQ:SERV) was upgraded by equities research analysts at Northland Capmk to a “strong-buy” rating in a report released on Friday, Zacks.com reports.

Several other equities research analysts have also recently issued reports on the company. Seaport Res Ptn upgraded Serve Robotics to a “strong-buy” rating in a research note on Monday, October 7th. Aegis raised Serve Robotics to a “strong-buy” rating in a report on Wednesday, July 24th. Finally, Northland Securities began coverage on shares of Serve Robotics in a research report on Friday. They set an “outperform” rating and a $16.00 price objective for the company.

Serve Robotics Price Performance

Shares of SERV stock opened at $9.36 on Friday. Serve Robotics has a 12-month low of $1.77 and a 12-month high of $24.09. The stock’s 50 day moving average is $8.83.

Serve Robotics (NASDAQ:SERV) last posted its quarterly earnings data on Tuesday, August 13th. The company reported ($0.27) earnings per share for the quarter. Serve Robotics had a negative return on equity of 728.80% and a negative net margin of 2,155.86%. The firm had revenue of $0.47 million for the quarter. On average, sell-side analysts anticipate that Serve Robotics will post -0.94 EPS for the current fiscal year.

Institutional Trading of Serve Robotics

Several large investors have recently bought and sold shares of the business. Bfsg LLC acquired a new stake in shares of Serve Robotics in the 3rd quarter valued at approximately $38,000. Harbour Capital Advisors LLC bought a new position in Serve Robotics in the 3rd quarter valued at approximately $198,000. PFG Investments LLC acquired a new stake in Serve Robotics in the second quarter valued at approximately $110,000. Finally, Thomist Capital Management LP bought a new stake in shares of Serve Robotics during the second quarter worth $407,000.

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.