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

Posted by Scott Moore on Oct 15th, 2024

Serve Robotics’ (NASDAQ:SERV – Get Free Report) lock-up period is set to expire on Tuesday, October 15th. Serve Robotics had issued 10,000,000 shares in its initial 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 expiration of Serve Robotics’ lock-up period, company insiders and major shareholders will be able to sell their shares of the company.

Wall Street Analyst Weigh In

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

View Our Latest Stock Analysis on SERV

Serve Robotics Stock Up 2.8 %

Shares of Serve Robotics stock opened at $8.92 on Tuesday. Serve Robotics has a 12-month low of $1.77 and a 12-month high of $24.09. The stock’s 50-day moving average price is $9.27.

Serve Robotics (NASDAQ:SERV – Get Free Report) last posted its quarterly earnings data on Tuesday, August 13th. The company reported ($0.27) earnings per share for the quarter. The firm had revenue of $0.47 million for the quarter. Serve Robotics had a negative return on equity of 728.80% and a negative net margin of 2,155.86%. As a group, equities research analysts forecast that Serve Robotics will post -0.94 EPS for the current fiscal year.

Hedge Funds Weigh In On Serve Robotics

A hedge fund recently bought a new stake in Serve Robotics stock. PFG Investments LLC purchased a new stake in Serve Robotics Inc. (NASDAQ:SERV – Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 56,408 shares of the company’s stock, valued at approximately $110,000. PFG Investments LLC owned 0.15% of Serve Robotics as of its most recent SEC filing.

About Serve Robotics

(Get Free Report)

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.