Why is Ather Energy falling/rising?

As of 01-Sep, Ather Energy Ltd's stock price is currently at Rs 486.50, reflecting an increase of Rs 36.6 or 8.14%. The stock has recently hit a new 52-week and all-time high of Rs 512.75, demonstrating strong performance with a 12.88% gain over the last two days and a 40.10% increase over the past month. The stock has outperformed its sector by 4.97% today and has shown high volatility with an intraday range of Rs 67.15. Additionally, institutional holdings have increased by 17.42% over the previous quarter, indicating strong investor confidence, although the company faces challenges such as operating losses and a high Debt to EBITDA ratio, which may pose risks to its long-term growth.
In the broader market context, Ather Energy's short-term performance has significantly outpaced the benchmark Sensex, which has declined by 1.56% over the past week. This stark contrast highlights the stock's resilience and investor interest, particularly in the automobile sector, which has gained 3.18%. Despite the positive short-term movements, the company’s long-term fundamentals remain weak, as indicated by its negative EBITDA and flat results in June, suggesting that while the stock is currently rising, it faces underlying challenges that could affect its future performance.