Serve Robotics Inc.’s (NASDAQ:SERV) Lock-Up Period To Expire on October 15th

Serve Robotics’ (NASDAQ:SERV) lock-up period will expire on Tuesday, October 15th. Serve Robotics had issued 10,000,000 shares in its public offering on April 18th. The total size of the offering was $40,000,000 based on an initial share price of $4.00. After the end of Serve Robotics’ lock-up period, major shareholders and company insiders will be able to sell their shares of the company.

Analyst Ratings Changes

Several analysts have recently issued reports on SERV shares. Seaport Res Ptn upgraded Serve Robotics to a “strong-buy” rating in a research note on Monday, October 7th. Aegis upgraded Serve Robotics to a “strong-buy” rating in a report on Wednesday, July 24th.

Serve Robotics Price Performance

Serve Robotics stock opened at $8.92 on Tuesday. Serve Robotics has a fifty-two week low of $1.77 and a fifty-two week high of $24.09. The stock’s fifty day moving average price is $9.27.

Serve Robotics (NASDAQ:SERV) last issued its quarterly earnings results on Tuesday, August 13th. The company reported ($0.27) EPS for the quarter. Serve Robotics had a negative return on equity of 728.80% and a negative net margin of 2,155.86%. The business had revenue of $0.47 million during the quarter. Equities analysts forecast that Serve Robotics will post -0.94 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Serve Robotics

An institutional investor recently bought a new position in Serve Robotics stock. Thomist Capital Management LP acquired a new stake in shares of Serve Robotics Inc. (NASDAQ:SERV) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 208,910 shares of the company’s stock, valued at approximately $407,000. Thomist Capital Management LP owned about 0.56% of Serve Robotics as of its most recent filing with the Securities & Exchange Commission.

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.