Greggs (LON:GRG) Stock Price Down 14.5% - Here's What Happened

On Thursday, Greggs plc (LON:GRG - Get Free Report) experienced a significant decline in its stock price, dropping by 14.5% during mid-day trading. The shares reached a low of GBX 2,210 ($27.32) before recovering slightly to close at GBX 2,246.25 ($27.77). This decline occurred on a day when trading volume surged to 1,652,230 shares, representing a 316% increase over the average volume of 397,330 shares. The previous closing price for the stock was GBX 2,626 ($32.46).

Greggs Price Performance

The financial metrics of Greggs show a quick ratio of 0.88, a current ratio of 0.80, and a debt-to-equity ratio of 66.19. The 50-day moving average for the stock is GBX 2,737.99, while the 200-day moving average stands at GBX 2,898.07. Greggs currently holds a market capitalization of £2.28 billion, with a price-to-earnings ratio of 1,676.30 and a price-to-earnings-growth ratio of 3.39. The stock has a beta of 1.43, indicating higher volatility compared to the market.

Insider Buying and Selling at Greggs

In a noteworthy development, insider Roisin Currie acquired 14 shares of Greggs stock on October 23rd. The shares were bought at an average price of GBX 2,886 ($35.67), resulting in a total transaction of £404.04 ($499.43). It is also worth mentioning that insiders own 5.89% of the company's total stock.

About Greggs

Greggs is a prominent food-on-the-go retailer in the UK, operating over 2,400 shops and employing approximately 32,000 staff members. The company is known for its daily fresh, shop-made sandwiches and baked goods, which are prepared on-site throughout the day. In addition, Greggs offers a wide array of products, including freshly brewed coffee, breakfast items, sweets, and evening menu choices.

Should You Invest $1,000 in Greggs Right Now?

Investors are urged to consider all options before making financial decisions regarding Greggs. While the stock has a "Moderate Buy" rating from analysts, some believe there are better investment opportunities currently available.

Greggs, Stock, Trading