Why is Aeroflex falling/rising?

As of 27-Jun, Aeroflex Industries Ltd is experiencing a price increase, currently at Rs 209.00, reflecting a rise of 4.45 or 2.18%. The stock has shown strong performance today, outperforming its sector by 2.36% and achieving a consecutive gain over the last three days, with a total increase of 4.79% during this period. Additionally, Aeroflex has been trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Despite these positive indicators, there are concerns regarding falling investor participation, as the delivery volume has decreased significantly by 76.66% compared to the 5-day average. The company has a low debt-to-equity ratio, but its operating profit growth has been modest, and the stock's valuation appears expensive given its price-to-book ratio of 7.9.
In the broader market context, Aeroflex's short-term return of 2.25% over the past week slightly outpaces the Sensex's return of 2.00%. However, over the past month, Aeroflex has significantly outperformed the benchmark with a return of 24.59% compared to the Sensex's 3.07%. While the stock has generated a notable return of 32.36% over the past year, it is important to note that its profits have only risen by 24%, leading to a PEG ratio of 2.1, indicating potential overvaluation. Furthermore, institutional investors have reduced their stake in the company, which may reflect concerns about its long-term growth prospects despite its recent price increase.