Greggs (LON:GRG) Shares Down 12.5% – Here’s Why

Greggs plc (LON:GRG) shares traded down 12.5% on Thursday . The company traded as low as GBX 2,286 ($27.91) and last traded at GBX 2,297.96 ($28.06). 1,218,997 shares were traded during mid-day trading, an increase of 275% from the average session volume of 325,124 shares. The stock had previously closed at GBX 2,626 ($32.06).

Greggs Trading Down 5.8 %

The stock has a market capitalization of £2.11 billion, a P/E ratio of 1,553.73, a price-to-earnings-growth ratio of 3.39 and a beta of 1.43. The business has a 50 day simple moving average of GBX 2,728.08 and a 200-day simple moving average of GBX 2,893.76. The company has a debt-to-equity ratio of 66.19, a quick ratio of 0.88 and a current ratio of 0.80.

Insider Activity

In other Greggs news, insider Roisin Currie bought 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 ($35.24) per share, for a total transaction 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.