Greggs (LON:GRG) Trading Down 14.5% – What’s Next?

Greggs plc (LON:GRG) shares dropped 14.5% during trading on Thursday . The company traded as low as GBX 2,210 ($27.19) and last traded at GBX 2,246.25 ($27.64). Approximately 1,652,230 shares changed hands during trading, an increase of 316% from the average daily volume of 397,330 shares. The stock had previously closed at GBX 2,626 ($32.31).

Greggs Stock Down 14.5 %

The firm’s fifty day moving average is GBX 2,737.99 and its two-hundred day moving average is GBX 2,898.07. The firm has a market cap of £2.28 billion, a price-to-earnings ratio of 1,676.30, a P/E/G ratio of 3.39 and a beta of 1.43. The company has a debt-to-equity ratio of 66.19, a current ratio of 0.80 and a quick ratio of 0.88.

Insider Transactions at Greggs

In other Greggs news, insider Roisin Currie purchased 14 shares of the company’s stock in a transaction on Wednesday, October 23rd. The shares were purchased at an average cost of GBX 2,886 ($35.51) per share, for a total transaction of £404.04 ($497.16). 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.