Greggs (OTCMKTS:GGGSF) Stock Jumps 13.5% – Here’s Why

Greggs plc (OTCMKTS:GGGSF) shot up 13.5% on Tuesday. The company traded as high as $31.4120 and last traded at $30.65. Approximately 164,033 shares traded hands during mid-day trading, an increase of 4,274% from the average daily volume of 3,750 shares. The stock had previously closed at $27.00.

Wall Street Analyst Weigh In

GGGSF has been the subject of several recent research reports. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Greggs in a research report on Friday, October 9th. UBS Group cut shares of Greggs to a “neutral” rating in a research report on Tuesday, October 13th. Three analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce”.

Greggs Stock Performance

The firm has a fifty day simple moving average of $26.15 and a 200-day simple moving average of $23.22.

Greggs Company Profile

Greggs plc is a United Kingdom-based food-on-the-go retailer that operates bakery shops, cafés and other convenience-focused food outlets. The company sells freshly prepared products including sandwiches, pastries, sausage rolls, pies, pizzas, salads, breakfast items, hot drinks and other snacks. The business was established in Newcastle upon Tyne in 1939 by John Gregg as a bakery serving local communities. Greggs has since expanded into a nationwide retail chain, with locations serving customers across the United Kingdom through high-street shops, retail parks, transport hubs and other high-footfall sites.