Greggs (OTCMKTS:GGGSF) Shares Down 6.6% – Should You Sell?

Greggs plc (OTCMKTS:GGGSF) fell 6.6% during trading on Monday . The company traded as low as $22.72 and last traded at $22.72. Approximately 10,751 shares were traded during mid-day trading, an increase of 421% from the average daily volume of 2,063 shares. The stock had previously closed at $24.3150.

Analysts Set New Price Targets

Separately, Royal Bank Of Canada lowered Greggs from an “outperform” rating to a “sector perform” rating in a research report on Friday, July 31st. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce”.

Greggs Trading Down 6.6%

The company has a 50 day moving average of $23.70 and a 200 day moving average of $22.30.

About Greggs

Greggs plc, trading on the OTC Markets under the symbol GGGSF, is a leading UK-based bakery chain specializing in freshly prepared food and beverage offerings. Established in 1939, the company has grown from a single bakery in Newcastle upon Tyne into one of Britain’s most recognized high-street brands. Greggs operates a network of more than 2,000 retail outlets, including stand-alone shops, in-store concessions, and kiosks situated in transport hubs and convenience locations across England, Scotland and Wales.

The company’s core product range centers on bakery items such as its iconic sausage rolls, pastries, and sweet treats, complemented by a selection of sandwiches, salads and hot and cold beverages.