Why is Newgen Software falling/rising?

As of 22-Aug, Newgen Software Technologies Ltd is experiencing a decline in its stock price, currently at 866.50, which reflects a decrease of 2.05 (-0.24%). The stock has been underperforming recently, having fallen consecutively for the last two days with a total return of -1.34%. It is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. Additionally, the delivery volume has significantly decreased by 64.93% compared to the 5-day average, suggesting a drop in investor participation. Over the past week, the stock has declined by 2.35%, while its performance over the last month shows a decrease of 5.30%. Despite a healthy long-term growth rate in operating profit and high management efficiency, the stock's recent performance has been negatively impacted by flat results in its latest quarterly report, which showed a significant drop in net sales.
Broader Market Context: In comparison to the benchmark, Newgen Software's short-term performance has been notably weaker. While the Sensex has gained 0.88% over the past week, Newgen's stock has dropped by 2.35%. Over the past year, the stock has underperformed the broader market, with a return of -19.50% compared to the Sensex's modest gain of 0.31%. This underperformance is compounded by the stock's high valuation metrics, such as a Price to Book Value of 8.1, which is considered expensive relative to its peers. The combination of declining sales, high valuation, and reduced investor interest has contributed to the stock's downward trajectory in the current market environment.