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

Greggs plc (LON:GRG)’s stock price dropped 12.5% during mid-day 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 Stock Down 12.5 %

The company has a market capitalization of £2.33 billion, a P/E ratio of 1,714.90, 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. The firm has a fifty day simple moving average of GBX 2,741.39 and a 200-day simple moving average of GBX 2,899.72.

Insiders Place Their Bets

In related news, insider Roisin Currie acquired 14 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were acquired at an average cost 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.