Is Bit Digital, Inc. overvalued or undervalued?

As of 15 May 2025, the valuation grade for Bit Digital, Inc. has moved from fair to risky, indicating a shift towards a more negative outlook. The company appears to be overvalued, particularly given its negative earnings and poor performance metrics. Key ratios include a Price to Book Value of 1.32, an EV to EBITDA of 116.41, and a ROE of -19.04%.
In comparison to peers, Willdan Group, Inc. has a P/E ratio of 40.42 and Universal Technical Institute, Inc. has a fair valuation with a P/E of 23.75, highlighting that Bit Digital is not only underperforming but also trading at a premium relative to its peers. Over the past year, Bit Digital's stock has returned 8.71%, which is significantly lower than the S&P 500's return of 17.14%, reinforcing the notion that the stock may be overvalued in the current market context.