Why is Ather Energy falling/rising?

As of 05-Aug, Ather Energy Ltd's stock price is currently at 390.45, reflecting a decrease of 8.8 points or 2.2%. Today's price summary indicates that the stock has underperformed its sector by 2.7%, with an intraday high of Rs 409.15 and a low of Rs 380.8. Despite trading above its moving averages for 5, 20, 50, 100, and 200 days, the stock's weighted average price suggests more volume was traded closer to the low price. The company has high institutional holdings at 48.08%, which have increased by 17.42% over the previous quarter. However, the company is facing challenges such as operating losses and a high Debt to EBITDA ratio, indicating weak long-term fundamental strength and a risky investment profile.
In the broader market context, Ather Energy has shown strong short-term performance, with a 1-week return of +13.03% compared to a -0.77% decline in the Sensex, and a 1-month return of +18.71% against a -3.26% benchmark. This suggests that while the stock has been performing well relative to the market in the short term, the current decline may be influenced by its underlying financial challenges and the recent price movement. The stock's performance over the past year has been flat, generating a return of 0.00%, which further emphasizes the risks associated with its current valuation and operating conditions.