Greggs (LON:GRG) Shares Down 14.6% – Here’s What Happened

Greggs plc (LON:GRG) shares dropped 14.6% during trading on Thursday . The company traded as low as GBX 2,238 ($27.66) and last traded at GBX 2,241.68 ($27.71). Approximately 1,479,823 shares changed hands during mid-day trading, an increase of 301% from the average daily volume of 368,595 shares. The stock had previously closed at GBX 2,626 ($32.46).

Greggs Price Performance

The company has a debt-to-equity ratio of 66.19, a quick ratio of 0.88 and a current ratio of 0.80. The firm has a market capitalization of £2.24 billion, a P/E ratio of 1,649.25, a price-to-earnings-growth ratio of 3.39 and a beta of 1.43. The company has a 50-day moving average price of GBX 2,737.99 and a 200-day moving average price of GBX 2,898.07.

Insider Buying and Selling at Greggs

In related news, insider Roisin Currie bought 14 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The shares were acquired at an average price of GBX 2,886 ($35.67) per share, with a total value of £404.04 ($499.43). Company 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.