Why is Ather Energy falling/rising?

As of 08-Sep, Ather Energy Ltd's stock price is rising, currently at Rs. 520.50, reflecting an increase of Rs. 21.15 or 4.24%. The stock has recently hit a new 52-week high of Rs. 549.15 and has outperformed its sector by 0.96%. Over the past week, the stock has gained 6.99%, and in the last month, it has risen by 21.93%. However, despite these positive movements, there are concerns regarding the company's long-term fundamentals, as it has been experiencing operating losses and has a high Debt to EBITDA ratio, indicating a weak ability to service its debt. Additionally, while institutional holdings have increased, suggesting confidence from larger investors, the delivery volume has fallen significantly, which may indicate a decrease in retail investor participation.
In the broader market context, Ather Energy's short-term performance is notably stronger than the benchmark Sensex, which has only increased by 0.53% over the past week. The automobile sector, particularly the two and three-wheelers segment, has also seen a gain of 3.26%, contributing to the positive sentiment around Ather Energy. However, the stock's risky profile, characterized by negative EBITDA and flat results in June, raises caution among investors. Overall, while the stock is currently rising, the underlying financial challenges and declining retail interest could pose risks to its continued upward momentum.