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

Greggs plc (LON:GRG) fell 14.5% during trading on Thursday . The stock traded as low as GBX 2,210 ($27.32) and last traded at GBX 2,246.25 ($27.77). 1,652,230 shares traded hands during mid-day trading, an increase of 316% from the average session volume of 397,330 shares. The stock had previously closed at GBX 2,626 ($32.46).

Greggs Trading Down 14.5 %

The business has a 50-day moving average price of GBX 2,737.99 and a two-hundred day moving average price of GBX 2,898.07. The company has a market cap of £2.28 billion, a P/E ratio of 1,676.30, a P/E/G ratio of 3.39 and a beta of 1.43. The company has a quick ratio of 0.88, a current ratio of 0.80 and a debt-to-equity ratio of 66.19.

Insider Buying and Selling at Greggs

In other Greggs news, insider Roisin Currie bought 14 shares of the company’s stock in a transaction on Wednesday, October 23rd. The stock was bought at an average price of GBX 2,886 ($35.67) per share, for a total transaction of £404.04 ($499.43). 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.