Greggs (LON:GRG) Trading Down 12.5% – Here’s What Happened

Greggs plc (LON:GRG) shares were down 12.5% during trading on Thursday . The stock traded as low as GBX 2,286 ($27.91) and last traded at GBX 2,297.96 ($28.06). Approximately 1,218,997 shares traded hands 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 Price Performance

The stock has a 50-day moving average price of GBX 2,728.08 and a two-hundred day moving average price of GBX 2,893.76. 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 market cap of £2.11 billion, a price-to-earnings ratio of 1,553.73, a PEG ratio of 3.39 and a beta of 1.43.

Insiders Place Their Bets

In related news, insider Roisin Currie acquired 14 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was purchased at an average cost of GBX 2,886 ($35.24) per share, with a total value of £404.04 ($493.33). 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.