Serve Robotics Inc. (NASDAQ:SERV – Get Free Report) shares fell 5% on Tuesday . The company traded as low as $6.65 and last traded at $6.86. 1,607,785 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 11,381,784 shares. The stock had previously closed at $7.22.
Wall Street Analyst Weigh In
Separately, Aegis upgraded shares of Serve Robotics to a “strong-buy” rating in a research report on Wednesday, July 24th.
Check Out Our Latest Analysis on Serve Robotics
Serve Robotics Price Performance
Serve Robotics (NASDAQ:SERV – Get Free Report) last announced its earnings results on Tuesday, August 13th. The company reported ($0.27) earnings per share 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 for the quarter. On average, analysts expect that Serve Robotics Inc. will post -0.85 earnings per share for the current fiscal year.
Institutional Trading of Serve Robotics
An institutional investor recently bought a new position in Serve Robotics stock. Thomist Capital Management LP purchased a new stake in Serve Robotics Inc. (NASDAQ:SERV – Free Report) during the second quarter, according to its most recent disclosure with the SEC. The firm purchased 208,910 shares of the company’s stock, valued at approximately $407,000. Thomist Capital Management LP owned approximately 0.56% of Serve Robotics at the end of the most recent quarter.
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.
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