Why is Newgen Software falling/rising?

As of 23-Sep, Newgen Software Technologies Ltd is experiencing a decline in its stock price, currently at 882.50, which reflects a decrease of 15.8 points or 1.76%. The stock has underperformed its sector by 1.17% today and has been on a consecutive downward trend for the last three days, resulting in a total decline of 3.95% during this period. Additionally, the stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. The delivery volume has also decreased significantly, falling by 34.06% against the 5-day average, suggesting reduced investor participation. Despite some positive factors such as high management efficiency and low debt levels, the stock's performance has been hindered by flat results in the latest quarter, with key financial metrics at their lowest, and a high valuation compared to peers.
In the broader market context, Newgen Software's short-term performance shows a slight decline of 0.14% over the past week, while the Sensex has decreased by 0.34%, indicating that the stock is not only underperforming its sector but also the overall market. Over the past year, Newgen has faced a substantial drop of 33.34%, significantly worse than the market's decline of 3.33%, highlighting its struggles relative to broader market conditions. The company's high price-to-book value and elevated PEG ratio further suggest that it is trading at a premium, which may deter potential investors amidst its recent poor performance.