Updated from 7:45 AM EDT.

NEW YORK (TheStreet) -- Shares of Lumber Liquidators (LL - Get Report) were diving 13.96% to $15.90 on heavy trading volume early Monday afternoon after the company reported a wider-than-expected loss for the 2016 third quarter on Monday.

Before the market open, the Toano, VA-based hardwood floors retailer posted a net loss of 68 cents per diluted share, while analysts were looking for a loss of 18 cents per share, according to FactSet.

Revenue rose 3.4% to $244.1 million year-over-year and was higher than analysts' estimates of $231.8 million.

Comparable-store sales increased 1% in the period, better than Wall Street's forecasts. Analysts surveyed by FactSet were expecting a decline of 3.9%.

"We are pleased with the direction of our sales performance this quarter but recognize we have work to do to restore Lumber Liquidators to growth and profitability for the long term," CEO John Presley said in a statement.

The company opened one new store during the quarter.

Last year, CBS's "60 Minutes" alleged that Lumber Liquidators had sold Chinese laminate products with dangerously high levels of formaldehyde, which may cause cancer. The stock plummeted more than 70% in the aftermath of the allegations, according to Bloomberg.

More than 3.45 million of the company's shares changed hands so far today vs. its average 30-day volume of 870,367 shares.

Separately, TheStreet Ratings Team has a "Sell" rating with a score of D on the stock.

The company's weaknesses can be seen in multiple areas, such as its disappointing return on equity, weak operating cash flow and poor profit margins.

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: LL