Enlarge / The Charge 2 is a slightly bigger version of Fitbit’s Alta. (credit: Valentina Palladino)

In Thursday afternoon trading, Fitbit’s stock price lost more than one-third of its value after the company announced a significant drop in profits.

According to its latest quarterly numbers, the company made $26.1 million in the third quarter of 2016 compared with $45.8 million during the same quarter a year ago.

In mid-September, the company released the Fitbit Charge 2, a mid-range $150 device.