Greggs (LON:GRG) Shares Down 12.5% – Time to Sell?

Shares of Greggs plc (LON:GRG) dropped 12.5% during mid-day trading on Thursday . The company traded as low as GBX 2,286 ($27.91) and last traded at GBX 2,297.96 ($28.06). Approximately 1,218,997 shares changed hands during mid-day trading, an increase of 275% from the average daily volume of 325,124 shares. The stock had previously closed at GBX 2,626 ($32.06).

Greggs Trading Down 5.8 %

The company has a current ratio of 0.80, a quick ratio of 0.88 and a debt-to-equity ratio of 66.19. The stock has a 50-day simple moving average of GBX 2,728.08 and a 200 day simple moving average of GBX 2,893.76. The company has a market cap of £2.11 billion, a price-to-earnings ratio of 1,553.73, a PEG ratio of 3.39 and a beta of 1.43.

Insider Buying and Selling

In other Greggs news, insider Roisin Currie bought 14 shares of Greggs stock in a transaction that occurred on Wednesday, October 23rd. The stock was purchased at an average price of GBX 2,886 ($35.24) per share, with a total value of £404.04 ($493.33). Corporate 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.