Greggs (LON:GRG) Trading Down 14.6% – Here’s What Happened

Greggs plc (LON:GRG) dropped 14.6% during trading on Thursday . The company traded as low as GBX 2,238 ($27.66) and last traded at GBX 2,241.68 ($27.71). Approximately 1,479,823 shares traded hands during mid-day trading, an increase of 301% from the average daily volume of 368,595 shares. The stock had previously closed at GBX 2,626 ($32.46).

Greggs Stock Performance

The company has a market cap of £2.24 billion, a P/E ratio of 1,649.25, a P/E/G ratio of 3.39 and a beta of 1.43. The firm has a 50 day moving average price of GBX 2,737.99 and a 200-day moving average price of GBX 2,898.07. 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 Transactions at Greggs

In other Greggs news, insider Roisin Currie bought 14 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was purchased at an average price of GBX 2,886 ($35.67) per share, for a total transaction of £404.04 ($499.43). 5.89% of the stock is currently owned by corporate 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.