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

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 changed hands during 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 Price Performance

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 firm has a fifty day moving average of GBX 2,741.39 and a two-hundred day moving average of GBX 2,899.72. The company has a market capitalization of £2.30 billion, a PE ratio of 1,690.96, a PEG ratio of 3.39 and a beta of 1.43.

Insider Activity at Greggs

In other Greggs news, insider Roisin Currie bought 14 shares of Greggs stock in a transaction dated Wednesday, October 23rd. The shares were purchased at an average cost of GBX 2,886 ($35.67) per share, with a total value of £404.04 ($499.43). 5.89% of the stock is currently owned by company insiders.

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.