Why is NIIT falling/rising?

As of 04-Sep, NIIT Ltd's stock price is currently at 113.85, reflecting a decline of 1.1 points or 0.96%. Despite a positive performance earlier in the day, where the stock opened with a gain of 2.35% and reached an intraday high of Rs 117.65, it has reversed course after three consecutive days of gains. The stock has underperformed in the long term, with a year-to-date decline of 40.36% and a one-year return of -40.11%. The company has reported poor financial metrics, including a significant drop in net sales and operating profit over the last five years, which contributes to its negative sentiment among investors. Additionally, while there is high institutional ownership at 23.49%, the stock's negative EBITDA and poor cash position raise concerns about its financial health.
In the broader market context, NIIT's short-term return of +5.17% over the past week outperformed the Sensex, which only gained 0.80%. However, the stock's long-term performance remains concerning, as it has underperformed the benchmark indices over one year and three years. The overall market sentiment appears to be cautious, particularly given the company's negative growth indicators and the high PEG ratio of 11.4, suggesting that investors may be wary of the stock's future potential. This combination of factors likely contributes to the stock's current downward movement despite some short-term gains.