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

Shares of Greggs plc (LON:GRG) were down 14.5% 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 Down 5.8 %

The company has a 50-day moving average of GBX 2,714.40 and a 200-day moving average of GBX 2,888.41. 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 company has a market capitalization of £2.11 billion, a price-to-earnings ratio of 1,553.73, a price-to-earnings-growth ratio of 3.39 and a beta of 1.43.

Insider Transactions at Greggs

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