After dropping 6 percent Monday to a new 10-year low, shares of organic food processor SunOpta Inc. fell further Tuesday morning.
Toronto-based SunOpta (NASDAQ:STKL) is a vertically integrated company involved in the sourcing, processing and packaging of organic and non-GMO value-added grain, seed, fruit and vegetable-based food products such as frozen fruit and plant-based beverages, as well as fruit snacks and nutrition bars for retail, foodservice and branded food customers.
SunOpta’s stock was trading Tuesday morning as low as $1.36, after closing Monday at $1.40, down 6 percent. The company’s shares have a 52-week high of $7.74. SunOpta has a market cap of $123.1 million.
In August, SunOpta reported a second quarter adjusted loss of $9 million, or $0.10 per share, on revenues of $293 million, down 8.2 percent.