Quantum Private Wealth LLC Makes New Investment in Serve Robotics Inc. (NASDAQ:SERV)

Quantum Private Wealth LLC bought a new position in shares of Serve Robotics Inc. (NASDAQ:SERV) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 10,000 shares of the company’s stock, valued at approximately $80,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SERV. Bfsg LLC acquired a new stake in Serve Robotics during the 3rd quarter worth $38,000. PFG Investments LLC acquired a new stake in Serve Robotics during the 2nd quarter worth $110,000. Harbour Capital Advisors LLC acquired a new position in shares of Serve Robotics during the 3rd quarter valued at about $198,000. Thomist Capital Management LP acquired a new position in shares of Serve Robotics during the 2nd quarter valued at about $407,000. Finally, Yong Rong HK Asset Management Ltd acquired a new position in shares of Serve Robotics during the 3rd quarter valued at about $9,636,000.

Serve Robotics Stock Performance

NASDAQ SERV opened at $9.63 on Friday. The firm has a 50-day moving average of $8.72. Serve Robotics Inc. has a 12 month low of $1.77 and a 12 month high of $24.09.

Serve Robotics (NASDAQ:SERV) last posted its earnings results on Tuesday, August 13th. The company reported ($0.27) EPS for the quarter. The company 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, analysts predict that Serve Robotics Inc. will post -0.96 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on SERV shares. Northland Capmk raised shares of Serve Robotics to a “strong-buy” rating in a research report on Friday, October 18th. 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 target on the stock. Northland Securities started coverage on shares of Serve Robotics in a research report on Friday, October 18th. They set an “outperform” rating and a $16.00 price target on the stock. Aegis raised shares of Serve Robotics to a “strong-buy” rating in a research report on Wednesday, July 24th. Finally, Seaport Res Ptn raised shares of Serve Robotics to a “strong-buy” rating in a research report on Monday, October 7th. Two investment analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Strong Buy” and a consensus price target 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.