Is Advent Technologies Holdings, Inc. overvalued or undervalued?

As of 20 May 2021, the valuation grade for Advent Technologies Holdings, Inc. has moved from does not qualify to risky, indicating increased scrutiny on its financial health. The company is currently assessed as overvalued given its negative price-to-book value of -0.42 and negative EV to EBIT and EV to EBITDA ratios of -0.16 and -0.17, respectively. These metrics suggest that the company's financial performance is significantly underwhelming compared to its peers.
In comparison to notable peers, Advent's EV to EBITDA ratio of -0.2160 stands in stark contrast to Neonode, Inc.'s -45.4552 and Satixfy Communications Ltd.'s -14.7472, both of which indicate severe valuation challenges across the sector. Furthermore, Advent's stock has underperformed relative to the S&P 500, with a year-to-date return of -56.80% compared to the index's 2.44%. This combination of poor financial ratios and weak stock performance reinforces the conclusion that Advent Technologies is currently overvalued.