Why is Ather Energy falling/rising?

As of 02-Jul, Ather Energy Ltd's stock price is currently at Rs 336.45, reflecting an increase of Rs 2.15 or 0.64%. The stock has been gaining for the last three days, with a total return of 1.52% during this period. It is currently trading close to its 52-week high, just 2.27% away from Rs 344.1. Additionally, Ather Energy has outperformed its sector by 0.71%. However, there has been a notable decline in investor participation, with delivery volume dropping by 55.04% compared to the five-day average, which may indicate a potential concern regarding sustained interest in the stock.
In the broader market context, Ather Energy's one-week performance shows a decline of 1.25%, while the Sensex has increased by 0.79% during the same period. Over the last month, Ather Energy has outperformed the Sensex, with a return of 6.07% compared to the benchmark's 2.50%. Despite the recent gains, the significant drop in delivery volume could suggest that the upward momentum may not be fully supported by strong investor engagement, which could impact future price movements.