Greggs (LON:GRG) Trading Down 10.7% – Here’s What Happened

Greggs plc (LON:GRG) shares were down 10.7% on Thursday . The company traded as low as GBX 2,320 ($28.33) and last traded at GBX 2,346 ($28.64). Approximately 1,174,864 shares traded hands during mid-day trading, an increase of 270% from the average daily volume of 317,769 shares. The stock had previously closed at GBX 2,626 ($32.06).

Greggs Price Performance

The company has a market capitalization of £2.11 billion, a PE ratio of 1,553.73, a PEG ratio of 3.39 and a beta of 1.43. 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 company’s 50 day moving average price is GBX 2,728.08 and its 200-day moving average price is GBX 2,893.76.

Insider Buying and Selling at Greggs

In other Greggs news, insider Roisin Currie purchased 14 shares of Greggs stock in a transaction on Wednesday, October 23rd. The shares were purchased at an average cost of GBX 2,886 ($35.24) per share, with a total value of £404.04 ($493.33). 5.89% of the stock is owned by company insiders.

About Greggs

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.