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

Greggs plc (LON:GRG) shares dropped 14.5% during mid-day trading on Thursday . The company 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 mid-day 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 Trading Down 5.8 %

The firm has a market cap of £2.11 billion, a price-to-earnings ratio of 1,553.73, a P/E/G ratio of 3.39 and a beta of 1.43. The firm’s 50-day moving average is GBX 2,714.40 and its 200-day moving average is 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.

Insider Transactions at Greggs

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

Greggs Company Profile

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.