Greggs (LON:GRG) Trading Down 14.5% – Here’s Why

Greggs plc (LON:GRG)’s share price dropped 14.5% during mid-day trading on Thursday . The stock traded as low as GBX 2,210 ($27.19) and last traded at GBX 2,246.25 ($27.64). Approximately 1,652,230 shares changed hands during mid-day trading, an increase of 316% from the average daily volume of 397,330 shares. The stock had previously closed at GBX 2,626 ($32.31).

Greggs Price Performance

The stock has a market capitalization of £2.28 billion, a price-to-earnings ratio of 1,676.30, a price-to-earnings-growth 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 stock has a 50-day simple moving average of GBX 2,737.99 and a 200 day simple moving average of GBX 2,898.07.

Insider Buying and Selling at Greggs

In other Greggs news, insider Roisin Currie bought 14 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The stock was bought at an average cost of GBX 2,886 ($35.51) per share, with a total value of £404.04 ($497.16). Corporate insiders own 5.89% of the company’s stock.

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.