Greggs (LON:GRG) Stock Price Down 14.5% – Here’s Why

Greggs plc (LON:GRG) shares were down 14.5% during mid-day trading on Thursday . The stock traded as low as GBX 2,210 ($26.98) and last traded at GBX 2,246.25 ($27.43). Approximately 1,652,230 shares traded hands during 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 Stock Performance

The stock’s 50 day moving average price is GBX 2,714.40 and its 200 day moving average price is GBX 2,888.41. The firm has a market cap of £2.11 billion, a PE ratio of 1,553.73, a P/E/G ratio of 3.39 and a beta of 1.43. The company has a current ratio of 0.80, a quick ratio of 0.88 and a debt-to-equity ratio of 66.19.

Insider Buying and Selling

In other Greggs news, insider Roisin Currie acquired 14 shares of the stock in a transaction on Wednesday, October 23rd. The stock was purchased at an average price of GBX 2,886 ($35.24) per share, for a total transaction of £404.04 ($493.33). 5.89% of the stock is currently owned by 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.