Serve Robotics Inc (NASDAQ: SERV) Has Been Trading Down. What Are The Prospects For The Future?

Serve Robotics Inc (NASDAQ:SERV) traded at $8.33 at close of the session on current trade day and made a downward move of -1.54% on its previous day’s price.

Looking at the stock we see that its previous close was $8.46 with the day’s price range being $8.25 – $8.72. In terms of its 52-week price range, SERV has a high of $37.00 and a low of $1.77. The company’s stock has lost about -12.68% over that past 30 days.

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Serve Robotics Inc has a market cap of $363.33 million and is expected to release its quarterly earnings report in December.

Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at 254.02k, with a low of 160k and a high of 314k.

Based on estimates by 1 analysts, where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 0 have rated the Serve Robotics Inc (SERV) stock as a Hold, while 1 rate it as a Buy. 0 analyst(s) rate it as overweight while 0 of them rated it as underweight, whereas 0 suggest the stock as a Sell. The stock has an overall rating of Buy and investors could take advantage and scoop up stock of the company.

Looking further, we note the current price level is -11.66% off its SMA20 and -6.89% from its 50-day simple moving average. The RSI (14) is pointing at 44.22 while the volatility over the past week is 7.12% and jumps to 9.82% over the past one month.

Coming back to Serve Robotics Inc (NASDAQ:SERV), we note that the average 3-month trading volume was 5.18 million, while that of the preceding 10-day period stands at 4.06 million. Current shares outstanding are 36.94 million.

The insiders hold 39.47% of the company’s shares while institutions hold 10.90%. The data shows that short shares as of 2024-10-31, stood at 3.18 million at a short ratio of 0.53. This represents a 1114.00 short interest in shares outstanding on 2024-10-31. Shares short fall in October from the previous month at 4.63 million. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock -66.68% down in year-to-date price movement.

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