Stock Traders Buy High Volume of Serve Robotics Call Options (NASDAQ:SERV)

Stock Traders Buy High Volume of Serve Robotics Call Options (NASDAQ:SERV)

Serve Robotics Inc. (NASDAQ:SERV – Get Free Report) saw some unusual options trading activity on Thursday. Stock traders bought 15,550 call options on the stock. This represents an increase of approximately 71% compared to the average volume of 9,103 call options.

Serve Robotics Trading Up 24.8 %

Shares of SERV stock traded up $3.50 on Thursday, hitting $17.64. 14,934,248 shares of the stock traded hands, compared to its average volume of 9,486,738. Serve Robotics has a twelve month low of $1.77 and a twelve month high of $24.09. The firm’s 50-day moving average price is $10.51 and its two-hundred day moving average price is $8.58.

Insider Activity at Serve Robotics

In other news, Director James Buckly Jordan sold 64,408 shares of Serve Robotics stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $8.57, for a total value of $551,976.56. Following the sale, the director now owns 449,052 shares in the company, valued at $3,848,375.64. This trade represents a 12.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Touraj Parang sold 50,000 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $12.99, for a total transaction of $649,500.00. Following the transaction, the chief operating officer now owns 1,163,439 shares of the company’s stock, valued at approximately $15,113,072.61. This trade represents a 4.12 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 194,922 shares of company stock worth $2,178,354. 21.40% of the stock is owned by company insiders.

Institutional Trading of Serve Robotics

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Northland Securities started coverage on Serve Robotics in a research report on Friday, October 18th. They issued an “outperform” rating and a $16.00 target price on the stock. Seaport Res Ptn upgraded shares of Serve Robotics to a “strong-buy” rating in a research report on Monday, October 7th. Northland Capmk upgraded shares of Serve Robotics to a “strong-buy” rating in a research report on Friday, October 18th. Finally, LADENBURG THALM/SH SH started coverage on shares of Serve Robotics in a report on Monday, October 28th. They issued a “buy” rating and a $16.00 price objective for the company. Two equities research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, Serve Robotics has a consensus rating of “Strong Buy” and a consensus target price of $16.00.

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.

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