Why is Ather Energy falling/rising?

As of 12-Aug, Ather Energy Ltd's stock price is currently at 404.45, reflecting a decline of 15.75 points or 3.75%. The stock has been underperforming recently, having fallen for the last two days with a total drop of 5.26%. Today's trading saw the stock reach an intraday low of Rs 398.2, and it has been trading below the sector average by 3.48%. Despite this, Ather Energy is still above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. The company has high institutional holdings at 48.08%, which have increased by 17.42% over the previous quarter, indicating some confidence from institutional investors. However, the company is facing challenges such as operating losses and a high Debt to EBITDA ratio, which contribute to its weak long-term fundamental strength.
In the broader market context, Ather Energy's short-term performance has been relatively strong compared to the benchmark Sensex, with a 1-week return of 3.59% against the Sensex's decline of 0.59%. However, over the past month, Ather Energy has outperformed the Sensex significantly, with a return of 21.68% compared to the benchmark's drop of 2.75%. Despite these positive short-term returns, the stock's current decline suggests that investor sentiment may be influenced by concerns over its operating losses and overall financial health, leading to a cautious outlook among traders.