Is Bolt Projects Holdings, Inc. overvalued or undervalued?

As of 9 November 2023, the valuation grade for Bolt Projects Holdings, Inc. has moved from does not qualify to risky, indicating increased concerns about its financial health. The company appears to be overvalued, as evidenced by its negative P/E ratio of -0.3018 and an EV to EBITDA ratio of -0.6193, which are significantly worse than typical industry benchmarks.
In comparison to its peers, Bolt Projects Holdings, Inc. shows a stark contrast with companies in the finance sector, where positive valuations are expected. For instance, while Bolt's P/E ratio is negative, other firms in the industry likely maintain positive ratios, reflecting healthier financial positions. Furthermore, the company's stock has underperformed relative to the S&P 500, with a year-to-date return of -62.97% compared to the index's 12.22%, reinforcing the notion of overvaluation amidst poor performance.