Is there going to be Hoodwinked 3?

I sadly highly doubt it because I have heard

Unlike the first film which was financially successful, Hoodwinked Too! was a box office bomb. It opened to only $4.1 million and took in $10.1 million at the domestic box office, unlike its predecessor which earned $51.4 million domestically in 2006. Produced on $30 million, the film has grossed $13,481,916 as of June 2011, receiving a domestic total of $10,143,779, based on Box Office Mojo. which was on the wikepedia site. Although u hood fans hoodwinked too has just came out in 2011 and the first in 2006 so you never know.