Harbour Capital Advisors LLC Makes New Investment in Serve Robotics Inc. (NASDAQ:SERV)

Harbour Capital Advisors LLC acquired a new position in shares of Serve Robotics Inc. (NASDAQ:SERV) in the third quarter, Holdings Channel.com reports. The institutional investor acquired 24,890 shares of the company’s stock, valued at approximately $198,000.

Other institutional investors have also recently bought and sold shares of the company. Bfsg LLC acquired a new stake in Serve Robotics during the 3rd quarter worth about $38,000. PFG Investments LLC acquired a new stake in Serve Robotics during the 2nd quarter worth about $110,000. Finally, Thomist Capital Management LP acquired a new stake in Serve Robotics during the 2nd quarter worth about $407,000.

Serve Robotics Price Performance

Shares of Serve Robotics stock opened at $9.36 on Friday. Serve Robotics Inc. has a 52-week low of $1.77 and a 52-week high of $24.09. The firm’s 50-day moving average price is $8.83.

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

Wall Street Analyst Weigh In

A number of brokerages have commented on SERV. Northland Securities initiated coverage on Serve Robotics in a research report on Friday. They set an “outperform” rating and a $16.00 price objective for the company. Seaport Res Ptn upgraded Serve Robotics to a “strong-buy” rating in a report on Monday, October 7th. Finally, Aegis upgraded Serve Robotics to a “strong-buy” rating in a report on Wednesday, July 24th.

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.