Greggs (LON:GRG) Shares Down 14.6% – Here’s Why

Greggs plc (LON:GRG) dropped 14.6% during trading on Thursday . The stock traded as low as GBX 2,238 ($27.33) and last traded at GBX 2,241.68 ($27.37). Approximately 1,479,823 shares traded hands during trading, an increase of 301% from the average daily volume of 368,595 shares. The stock had previously closed at GBX 2,626 ($32.06).

Greggs Price Performance

The stock’s 50 day moving average price is GBX 2,728.08 and its 200-day moving average price is GBX 2,893.76. The company has a quick ratio of 0.88, a current ratio of 0.80 and a debt-to-equity ratio of 66.19. The stock has a market capitalization of £2.11 billion, a PE ratio of 1,553.73, a price-to-earnings-growth ratio of 3.39 and a beta of 1.43.

Insider Buying and Selling at Greggs

In other news, insider Roisin Currie bought 14 shares of Greggs stock in a transaction on Wednesday, October 23rd. The stock was acquired at an average cost of GBX 2,886 ($35.24) per share, for a total transaction of £404.04 ($493.33). Insiders own 5.89% of the company’s stock.

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.