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

Greggs plc (LON:GRG)’s share price was down 14.5% on Thursday . The company traded as low as GBX 2,210 ($27.32) and last traded at GBX 2,246.25 ($27.77). Approximately 1,652,230 shares were traded 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 ($32.46).

Greggs Stock Performance

The firm’s fifty day moving average price is GBX 2,737.99 and its 200-day moving average price is GBX 2,898.07. The company has a market cap of £2.28 billion, a P/E ratio of 1,676.30, a P/E/G 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.

Insider Buying and Selling at Greggs

In related news, insider Roisin Currie purchased 14 shares of the stock in a transaction on Wednesday, October 23rd. The shares were purchased at an average cost of GBX 2,886 ($35.67) per share, for a total transaction of £404.04 ($499.43). 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.