Greggs (LON:GRG) Shares Down 12.5% – Here’s Why

Greggs plc (LON:GRG)’s share price dropped 12.5% during mid-day trading on Thursday . The company traded as low as GBX 2,286 ($28.26) and last traded at GBX 2,297.96 ($28.40). Approximately 1,218,997 shares were traded during trading, an increase of 275% from the average daily volume of 325,124 shares. The stock had previously closed at GBX 2,626 ($32.46).

Greggs Stock Performance

The company has a debt-to-equity ratio of 66.19, a current ratio of 0.80 and a quick ratio of 0.88. The firm has a market capitalization of £2.33 billion, a PE ratio of 1,714.90, a P/E/G ratio of 3.39 and a beta of 1.43. The firm has a fifty day moving average price of GBX 2,741.39 and a 200 day moving average price of GBX 2,899.72.

Insider Transactions at Greggs

In other news, insider Roisin Currie purchased 14 shares of Greggs stock in a transaction that occurred on Wednesday, October 23rd. The stock was acquired at an average price of GBX 2,886 ($35.67) per share, for a total transaction of £404.04 ($499.43). 5.89% of the stock is currently owned by insiders.

Greggs Company Profile

Greggs is a leading UK food-on-the-go retailer with more than 2,400 shops nationwide and approximately 32,000 employees across the business.

As a food-on-the-go retailer, Greggs specialises in daily fresh shop-made sandwiches, and savouries baked fresh in the shop ovens throughout the day. These are further complemented by popular products and ranges including freshly ground coffee, breakfast, confectionery and evening menu items.