RTTNews | Nov 9, 2021 12:03PM EST

12:03 Tuesday, November 9, 2021 (RTTNews.com) - Shares of pet food company Freshpet, Inc. (FRPT) are trading down 14 percent on Tuesday after the company turned to loss in the third quarter and forecast annual sales below the Street estimates.

During the three-month period, the company reported net loss of $2.07 million or $0.05 per share, compared to net income of $3.54 million or $0.09 per share in the same period last year.

On average, 14 analysts polled by Thomson Reuters expected the company to post earnings of $0.07 per share in the period.

Quarterly sales rose 28 percent to $107.6 million from $84.2 million a year ago. Looking ahead for full year 2021, the company expects net sales of about $445 million, while analysts were looking for sales of $446 million for the year ahead. Currently at $129.98, the stock has traded between $116.93 and $186.98 during the past 52 weeks.

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