Is CF Acquisition Corp. VIII overvalued or undervalued?

As of 13 May 2024, the valuation grade for CF Acquisition Corp. VIII has moved from does not qualify to risky. The company appears to be overvalued given its financial metrics and peer comparisons. The P/E ratio is not applicable due to the company being loss-making, while the price to book value stands at -1.50, indicating significant negative equity. Additionally, the EV to EBITDA ratio is 11.50, which is relatively high compared to its peers.
In comparison to its peers, CF Acquisition Corp. VIII has a notably negative P/E ratio of -3.7232, while Investcorp Europe Acquisition Corp. I has a P/E of 8.7745 and AP Acquisition Corp. shows a P/E of 41.2756. The EV to EBITDA ratio for CF Acquisition Corp. VIII is also less favorable compared to Investcorp's -21.2812 and AP's -51.5424. Furthermore, the company's stock has underperformed significantly against the S&P 500, with a year-to-date return of -10.92% compared to the index's 2.44%. Overall, these factors suggest that CF Acquisition Corp. VIII is overvalued in the current market context.