Yong Rong HK Asset Management Ltd acquired a new position in shares of Serve Robotics Inc. (NASDAQ:SERV - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,212,000 shares of the company's stock, valued at approximately $9,636,000. Serve Robotics comprises 2.8% of Yong Rong HK Asset Management Ltd's investment portfolio, making the stock its 12th largest holding. Yong Rong HK Asset Management Ltd owned 2.82% of Serve Robotics at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of SERV. Harbour Capital Advisors LLC bought a new position in shares of Serve Robotics during the 3rd quarter worth approximately $198,000. Bfsg LLC acquired a new stake in Serve Robotics during the 3rd quarter valued at $38,000. Thomist Capital Management LP acquired a new stake in Serve Robotics during the 2nd quarter valued at $407,000. Finally, PFG Investments LLC bought a new position in Serve Robotics during the second quarter worth $110,000.
SERV has been the topic of several research analyst reports. Northland Capmk raised shares of Serve Robotics to a "strong-buy" rating in a research report on Friday, October 18th. Aegis raised shares of Serve Robotics to a "strong-buy" rating in a report on Wednesday, July 24th. LADENBURG THALM/SH SH initiated coverage on Serve Robotics in a report on Monday, October 28th. They set a "buy" rating and a $16.00 price objective for the company. Northland Securities assumed coverage on Serve Robotics in a research note on Friday, October 18th. They set an "outperform" rating and a $16.00 target price on the stock. Finally, Seaport Res Ptn raised Serve Robotics to a "strong-buy" rating in a report on Monday, October 7th. Two research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, Serve Robotics has an average rating of "Strong Buy" and a consensus price target of $16.00.
Read Our Latest Research Report on Serve Robotics
Shares of Serve Robotics stock opened at $10.04 on Friday. Serve Robotics Inc. has a twelve month low of $1.77 and a twelve month high of $24.09. The business has a 50-day simple moving average of $8.70.
Serve Robotics (NASDAQ:SERV - Get Free Report) last released 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 during the quarter. Serve Robotics had a negative net margin of 2,155.86% and a negative return on equity of 728.80%. As a group, equities research analysts expect that Serve Robotics Inc. will post -0.96 EPS for the current fiscal year.
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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