Why is Neogen Chemicals falling/rising?

As of 21-Jul, Neogen Chemicals Ltd is currently priced at 1,561.50, reflecting a slight increase of 1.0 (0.06%). The stock has shown a trend reversal, gaining after two consecutive days of decline, and it outperformed its sector by 0.43% today. Despite this positive movement, the stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Over the past week, Neogen Chemicals has seen a decrease of 1.96%, and its year-to-date performance is down by 29.30%. While the company has high institutional holdings at 30.54%, indicating strong analytical support, it faces challenges such as a high Debt to EBITDA ratio of 2.96 times and low profitability, with an average Return on Equity of 9.58%. These factors contribute to a perception of poor long-term growth potential, which may weigh on investor sentiment.
In the broader market context, Neogen Chemicals has underperformed the benchmark Sensex over the past week and month, with the Sensex showing minor declines of 0.06% and 0.25%, respectively. The stock's year-to-date decline of 29.30% starkly contrasts with the Sensex's gain of 5.20%, highlighting the stock's struggles relative to the market. Although today's performance indicates a slight recovery, the overall trend suggests that investor concerns regarding the company's debt levels and profitability may overshadow short-term gains, leading to cautious sentiment in the market.