The healthcare practice management firm Nexteligent Holdings Inc (OTCMKTS:NXGT) may run an innovative business but this past Friday its stock did not particularly perform well as it slumped by as much as 25%. There was no news about the company on Friday and as a matter of fact there has been no news for many months now.
Hence, the decline in the steep decline in the stock is perhaps a bit of a mystery at this stage. However, investors could consider taking a look at an update from Nexteligent back in March. Back on March 16, the company raised its annual estimates for new business for its revenue cycle management arm as much as threefold.
Back in November 2020, Professional Revenue Management Services had joined the company and back in March, it raised its projections to $2000000 from $684000. That reflects a considerable boost and gives a significant idea about the sort of work that Nexteligent has accomplished in recent times.
The projections were boosted due to the signing of new revenues cycle management clients and higher sales that had been made to the existing clients. At this point, it might be a good move to keep an eye out for any kind of news about the company.