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

Greggs plc (LON:GRG) shares dropped 12.5% during trading on Thursday . The company traded as low as GBX 2,286 ($28.26) and last traded at GBX 2,297.96 ($28.40). Approximately 1,218,997 shares traded hands during mid-day trading, an increase of 275% from the average daily volume of 325,124 shares. The stock had previously closed at GBX 2,626 ($32.46).

Greggs Trading Down 12.5 %

The company has a quick ratio of 0.88, a current ratio of 0.80 and a debt-to-equity ratio of 66.19. The stock’s 50 day moving average price is GBX 2,741.39 and its 200-day moving average price is GBX 2,899.72. The stock has a market capitalization of £2.33 billion, a PE ratio of 1,714.90, a PEG ratio of 3.39 and a beta of 1.43.

Insider Activity

In related news, insider Roisin Currie acquired 14 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The shares were purchased at an average price 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.

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.