Is Blade Air Mobility, Inc. overvalued or undervalued?

As of 9 February 2021, the valuation grade for Blade Air Mobility, Inc. moved from does not qualify to risky, indicating a shift in perception regarding its financial health. The company appears to be overvalued given its current metrics, particularly with a Price to Book Value of 1.40 and an EV to Sales ratio of 0.76, which suggests that investors are paying a premium relative to its sales performance. Additionally, the negative EV to EBITDA of -7.44 highlights operational challenges that further support the overvaluation thesis.
In comparison to peers, Blade Air Mobility's valuation metrics are concerning; for instance, Air Transport Services Group, Inc. has a P/E ratio of 54.21, indicating a very expensive valuation, while Hawaiian Holdings, Inc. is also classified as risky with an EV to EBITDA of -9.29. The recent stock performance shows that Blade Air Mobility has outperformed the S&P 500 over the past year with an 83.33% return compared to the S&P 500's 17.14%, but this does not mitigate the underlying valuation concerns.