Quantum Private Wealth LLC Makes New $80,000 Investment in Serve Robotics Inc. (NASDAQ:SERV)

Quantum Private Wealth LLC purchased a new position in shares of Serve Robotics Inc. (NASDAQ:SERV) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,000 shares of the company’s stock, valued at approximately $80,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of SERV. Yong Rong HK Asset Management Ltd purchased a new stake in Serve Robotics during the third quarter worth about $9,636,000. Thomist Capital Management LP purchased a new stake in shares of Serve Robotics during the second quarter worth approximately $407,000. PFG Investments LLC purchased a new stake in shares of Serve Robotics during the second quarter worth approximately $110,000. Harbour Capital Advisors LLC purchased a new stake in shares of Serve Robotics during the third quarter worth approximately $198,000. Finally, Bfsg LLC purchased a new stake in shares of Serve Robotics during the third quarter worth approximately $38,000.

Serve Robotics Price Performance

SERV stock opened at $9.63 on Friday. Serve Robotics Inc. has a twelve month low of $1.77 and a twelve month high of $24.09. The company has a 50 day moving average price of $8.72.

Serve Robotics (NASDAQ:SERV) 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 during the quarter. Serve Robotics had a negative net margin of 2,155.86% and a negative return on equity of 728.80%. On average, sell-side analysts predict that Serve Robotics Inc. will post -0.96 EPS for the current year.

Wall Street Analyst Weigh In

SERV has been the topic of a number of recent research reports. Seaport Res Ptn upgraded shares of Serve Robotics to a “strong-buy” rating in a research note on Monday, October 7th. Northland Securities initiated coverage on shares of Serve Robotics in a research note on Friday, October 18th. They issued an “outperform” rating and a $16.00 price target on the stock. LADENBURG THALM/SH SH initiated coverage on shares of Serve Robotics in a research note on Monday, October 28th. They issued a “buy” rating and a $16.00 price target on the stock. Aegis upgraded shares of Serve Robotics to a “strong-buy” rating in a research note on Wednesday, July 24th. Finally, Northland Capmk upgraded shares of Serve Robotics to a “strong-buy” rating in a research note on Friday, October 18th. Two equities research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, Serve Robotics has an average rating of “Strong Buy” and a consensus price target of $16.00.

Serve Robotics Company Profile

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.