Serve Robotics Inc. (NASDAQ:SERV) CEO Ali Kashani Sells 9,719 Shares

Serve Robotics Inc. (NASDAQ:SERV) CEO Ali Kashani sold 9,719 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $8.77, for a total transaction of $85,235.63. Following the completion of the transaction, the chief executive officer now directly owns 3,355,238 shares in the company, valued at approximately $29,425,437.26. This represents a 0.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Ali Kashani also recently made the following trade(s):

• On Thursday, November 21st, Ali Kashani sold 1,109 shares of Serve Robotics stock. The stock was sold at an average price of $8.79, for a total transaction of $9,748.11.

Serve Robotics Trading Down 2.2 %

Shares of NASDAQ:SERV opened at $8.59 on Friday. Serve Robotics Inc. has a 52-week low of $1.77 and a 52-week high of $24.09. The company has a fifty day moving average of $9.03 and a 200-day moving average of $7.29.

Hedge Funds Weigh In On Serve Robotics

Institutional investors and hedge funds have recently bought and sold shares of the company. Larson Financial Group LLC acquired a new stake in shares of Serve Robotics during the third quarter valued at about $26,000. Bfsg LLC acquired a new position in shares of Serve Robotics in the third quarter valued at approximately $38,000. Gordian Capital Singapore Pte Ltd bought a new position in Serve Robotics in the 3rd quarter valued at approximately $68,000. Quantum Private Wealth LLC acquired a new stake in Serve Robotics during the 3rd quarter worth approximately $80,000. Finally, PFG Investments LLC acquired a new stake in Serve Robotics during the 2nd quarter worth approximately $110,000.

Analyst Upgrades and Downgrades

Several brokerages have commented on SERV. LADENBURG THALM/SH SH started coverage on shares of Serve Robotics in a research report on Monday, October 28th. They set a “buy” rating and a $16.00 price objective for the company. Northland Securities began coverage on Serve Robotics in a report on Friday, October 18th. They set an “outperform” rating and a $16.00 price target for the company. Seaport Res Ptn raised Serve Robotics to a “strong-buy” rating in a research note on Monday, October 7th. Finally, Northland Capmk raised Serve Robotics to a “strong-buy” rating in a research note on Friday, October 18th. Two equities research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Strong Buy” and a consensus target price of $16.00.

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.