Serve Robotics Inc (NASDAQ:SERV) shares, rose in value, with the stock price down by -3.98% to the previous day’s close as strong demand from buyers drove the stock to $7.61.
Actively observing the price movement in the recent trading, the stock is buoying the session at $7.92. Referring to stock’s 52-week performance, its high was $37.00, and the low was $1.77. On the whole, SERV has fluctuated by -52.62% over the past month.
With the market capitalization of Serve Robotics Inc currently standing at about $368.91 million, investors are eagerly awaiting this quarter’s results, scheduled for in April.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 14.05M, with a low estimate of 600k and a high estimate of 600k. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 600k.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that SERV’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium-term indicators have put the stock in the category of 50% Buy while long-term indicators on average have been pointing out that it is a 50% Sell.
The stock’s technical analysis shows that the price of SERV currently trading nearly -40.10% and -50.31% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 33.72, while the 7-day volatility ratio is showing 10.35% which for the 30-day chart, stands at 12.67%. Furthermore, Serve Robotics Inc (SERV)’s beta value is 2.33, and its average true range (ATR) is 1.75.
Data on historical trading for Serve Robotics Inc (NASDAQ:SERV) indicates that the trading volumes over the past 3 months, they’ve averaged 11.90 million. According to company’s latest data on outstanding shares, there are 42.84 million shares outstanding.
Nearly 26.74% of Serve Robotics Inc’s shares belong to company insiders and institutional investors own 13.74% of the company’s shares. The stock has fallen by -43.67% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the SERV stock heading into the next quarter.
