Greggs (LON:GRG) Shares Down 12.5% – Here’s Why

Greggs plc (LON:GRG) dropped 12.5% during 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 were traded during 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 50 day simple moving average of GBX 2,728.08 and a two-hundred day simple moving average of GBX 2,893.76. The company has a market cap 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 debt-to-equity ratio of 66.19, a quick ratio of 0.88 and a current ratio of 0.80.

Insider Buying and Selling at Greggs

In other news, insider Roisin Currie acquired 14 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were purchased at an average price of GBX 2,886 ($35.24) per share, for a total transaction of £404.04 ($493.33). Company 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.