Why is NIBE falling/rising?

As of 24-Oct, NIBE Ltd's stock price is currently at 1,265.00, reflecting a decline of 28.05 points or 2.17%. The stock has been underperforming, having fallen consecutively over the last two days with a total drop of 5.02%. It has also underperformed its sector by 2.98% today. The stock is trading below all its moving averages, indicating a bearish trend. Additionally, the company has reported negative financial results, with significant declines in profit before tax and net sales, which have contributed to a year-to-date return of -26.01%. Despite a strong ability to service debt and healthy long-term growth in net sales, the recent negative results and falling participation from institutional investors have negatively impacted investor sentiment.
In the broader market context, NIBE's short-term performance has been notably poor compared to the benchmark, as it has declined by 4.36% over the past week while the Sensex has gained 0.31%. Over the last year, NIBE has generated a return of -22.40%, significantly underperforming the market, which has seen a positive return of 3.49%. This stark contrast highlights the challenges NIBE faces in regaining investor confidence, especially as institutional investors have reduced their stakes, indicating a lack of confidence in the company's future performance relative to its peers.