Serve Robotics Inc. (NASDAQ:SERV) Short Interest Up 52.6% in December

by · The Cerbat Gem

Serve Robotics Inc. (NASDAQ:SERV – Get Free Report) was the target of a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 3,800,000 shares, an increase of 52.6% from the December 15th total of 2,490,000 shares. Based on an average daily trading volume, of 8,570,000 shares, the short-interest ratio is currently 0.4 days. Currently, 13.8% of the shares of the company are sold short.

Insider Activity at Serve Robotics

In other news, CEO Ali Kashani sold 37,500 shares of Serve Robotics stock in a transaction on Monday, January 6th. The stock was sold at an average price of $21.16, for a total transaction of $793,500.00. Following the completion of the sale, the chief executive officer now owns 3,230,990 shares of the company’s stock, valued at approximately $68,367,748.40. This trade represents a 1.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James Buckly Jordan sold 64,408 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $8.57, for a total transaction of $551,976.56. Following the completion of the sale, the director now directly owns 449,052 shares of the company’s stock, valued at approximately $3,848,375.64. The trade was a 12.54 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 253,027 shares of company stock worth $3,309,166. Insiders own 21.40% of the company’s stock.

Institutional Investors Weigh In On Serve Robotics

A number of large investors have recently modified their holdings of the business. Larson Financial Group LLC bought a new stake in shares of Serve Robotics during the 3rd quarter worth $26,000. Bfsg LLC acquired a new position in Serve Robotics during the third quarter worth about $38,000. Gordian Capital Singapore Pte Ltd bought a new position in shares of Serve Robotics in the third quarter worth about $68,000. Quantum Private Wealth LLC bought a new position in shares of Serve Robotics in the third quarter worth about $80,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Serve Robotics in the 4th quarter valued at approximately $114,000.

Serve Robotics Stock Performance

NASDAQ:SERV traded down $0.62 during mid-day trading on Friday, reaching $18.26. The stock had a trading volume of 9,720,446 shares, compared to its average volume of 15,442,528. Serve Robotics has a 12 month low of $1.77 and a 12 month high of $24.35. The stock has a 50-day simple moving average of $12.73 and a two-hundred day simple moving average of $10.19.

Analyst Upgrades and Downgrades

SERV has been the subject of several analyst reports. Seaport Res Ptn upgraded shares of Serve Robotics to a “strong-buy” rating in a research note on Monday, October 7th. LADENBURG THALM/SH SH assumed coverage on Serve Robotics in a report on Monday, October 28th. They issued a “buy” rating and a $16.00 price objective for the company. Northland Capmk raised Serve Robotics to a “strong-buy” rating in a report on Friday, October 18th. Finally, Northland Securities boosted their price target on Serve Robotics from $16.00 to $23.00 and gave the company an “outperform” rating in a research note on Wednesday. Two analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, Serve Robotics presently has an average rating of “Strong Buy” and a consensus target price of $19.50.

Get Our Latest Stock Analysis on Serve Robotics

Serve Robotics Company Profile

(Get Free Report)

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.

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