Why is Ather Energy falling/rising?

As of 11-Aug, Ather Energy Ltd's stock price is currently at Rs 420.20, reflecting a decrease of Rs 6.7 or 1.57%. The stock has recently underperformed its sector by 1.81% and has experienced a trend reversal, falling after two consecutive days of gains. Despite this decline, the stock has shown strong performance over the past week and month, with returns of 5.25% and 26.41%, respectively. However, the company faces challenges, including operating losses and a high Debt to EBITDA ratio, which contribute to its classification as a strong sell. Additionally, while institutional holdings are high at 48.08% and have increased, indicating confidence from larger investors, the company's weak long-term fundamentals and negative EBITDA present significant risks.
In the broader market context, Ather Energy's recent performance contrasts with the Sensex, which has declined by 0.51% over the past week and 2.30% over the past month. This suggests that while Ather Energy has outperformed the benchmark in the short term, the overall market sentiment may be affecting its stock price negatively today. The stock's liquidity remains adequate, with a significant increase in delivery volume, indicating rising investor participation, but the underlying financial challenges may be weighing on investor confidence, contributing to the current price decline.