Why is Ather Energy falling/rising?

As of 04-Jul, Ather Energy Ltd's stock price is currently at Rs 328.90, reflecting a decrease of Rs 1.1 or 0.33%. The stock has been experiencing a downward trend, having fallen for the last two days with a total decline of 2.24%. It is also 4.62% away from its 52-week high of Rs 344.1. Despite this recent decline, the stock has shown a positive performance over the past month, gaining 7.19%, which is significantly higher than the Sensex's increase of 3.01% during the same period. However, there has been a notable drop in investor participation, with delivery volume decreasing by 5.83% compared to the 5-day average, indicating a potential lack of interest from investors.
In the broader market context, Ather Energy's short-term performance has been slightly better than the benchmark Sensex, which has declined by 0.74% over the past week, while Ather's stock has decreased by 0.75%. This suggests that the stock's recent struggles are not entirely isolated, as the market sentiment appears to be subdued overall. The stock remains liquid enough for trading, but the falling investor participation could be a concern for future price movements. Overall, while Ather Energy has shown strong gains in the past month, the recent decline in price and investor engagement may indicate a cautious outlook among traders.