Is There More Upside Ahead For Serve Robotics Inc (NASDAQ: SERV)

Serve Robotics Inc (SERV) concluded trading on Thursday at a closing price of $8.46, with 3.36 million shares of worth about $28.43 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 256.96% during that period and on November 21, 2024 the price saw a loss of about -3.20%. Currently the company’s common shares owned by public are about 36.94M shares, out of which, 26.82M shares are available for trading.

Stock saw a price change of 7.77% in past 5 days and over the past one month there was a price change of -6.52%. Over the period of past 52 weeks, stock dropped to lowest price of $1.77 but also hit the highest price of $37.00 during that period. The average intraday trading volume for Serve Robotics Inc shares is 5.20 million. The stock is currently trading -10.95% below its 20-day simple moving average (SMA20), while that difference is down -5.50% for SMA50 and it goes to 25.07% higher than SMA200.

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Serve Robotics Inc (NASDAQ: SERV) currently have 36.94M outstanding shares and institutions hold larger chunk of about 10.90% of that.

The stock has a current market capitalization of $374.77M. It has posted earnings per share of -$0.87 in the same period. It has Quick Ratio of 10.58 while making debt-to-equity ratio of 0.03. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for SERV, volatility over the week remained 7.34% while standing at 9.93% over the month.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Ladenburg Thalmann on October 28, 2024 offering a Buy rating for the stock and assigned a target price of $16 to it. Coverage by Northland Capital stated Serve Robotics Inc (SERV) stock as an Outperform in their note to investors on October 18, 2024, suggesting a price target of $16 for the stock.

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