Why is Ather Energy falling/rising?

As of 13-Aug, Ather Energy Ltd's stock price is currently at Rs 412.60, reflecting an increase of Rs 8.15 or 2.02%. The stock has shown a strong performance recently, with a 7.13% gain over the past week and a notable 24.13% increase over the last month, significantly outperforming the Sensex, which has seen a slight decline of 0.01% in the same week and a 2.38% drop over the month. Today's trading indicates a positive trend reversal, as the stock has gained after two consecutive days of decline and is trading above all key moving averages. However, there are concerns regarding falling investor participation, as the delivery volume has decreased by 72.33% compared to the five-day average. Additionally, while institutional holdings are high at 48.08% and have increased, the company faces challenges such as operating losses and a high Debt to EBITDA ratio, indicating weak long-term fundamental strength.
In the broader market context, Ather Energy's recent performance stands in stark contrast to the benchmark Sensex, which has not only declined over the past month but also shows modest growth year-to-date at 3.07%. The stock's ability to outperform the sector by 0.71% today highlights its relative strength despite the overall market conditions. However, the company's weak long-term growth prospects and negative EBITDA raise concerns about its sustainability, suggesting that while the stock may be rising in the short term, underlying financial challenges could pose risks moving forward.