NEW YORK (TheStreet) -- SodaStream International shares have been correcting after a nice run up over the past day following the company's strong quarterly report.
Shares have fallen 10.2% to $37.35 in midday trading after popping in premarket trading Tuesday and afterhours trading on Monday. On Tuesday, the stock hits a 52-week high of $43.88. Volumes were at 1.28 million vs. its average daily churn of 812,545.
On Monday, shares of the home beverage carbonation systems company were popping by more than 5% in afterhours trading after reporting that adjusted earnings rose about 50% to 3.9 million euros, or 31 euro cents a share, for the three months ended Sept. 30, from 2.6 million euros, or 21 euro cents a year ago.
The company also reported a 57.4% jump in soda maker sales to 449,000, from 285,000 the same time last year.
This was SodaStream's first-ever quarterly announcement as a publicly-traded company. The company said it plans on ramping marketing efforts, especially in the U.S., heading into the holiday season.
SodaStream went public in the first week of November, pricing its initial public offering of 5.4 million common shares at a price of $20 a share. Shares have surged by more than 55% since then.
-- Written by Andrea Tse in New York.
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