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

Shares of Greggs plc (LON:GRG) dropped 14.5% on Thursday . The company traded as low as GBX 2,210 ($26.98) and last traded at GBX 2,246.25 ($27.43). Approximately 1,652,230 shares changed hands 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 ($32.06).

Greggs Price Performance

The firm has a 50-day simple moving average of GBX 2,714.40 and a 200-day simple moving average of GBX 2,888.41. The firm has a market capitalization 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 current ratio of 0.80 and a quick ratio of 0.88.

Insider Transactions at Greggs

In related news, insider Roisin Currie acquired 14 shares of Greggs stock in a transaction dated Wednesday, October 23rd. The stock was purchased at an average cost 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.

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.