Is Clean Earth Acquisitions Corp. overvalued or undervalued?

As of 10 May 2023, the valuation grade for Clean Earth Acquisitions Corp. has moved from does not qualify to risky, indicating a heightened level of concern regarding its financial health. The company is currently assessed as overvalued, particularly given its negative P/E ratio and concerning metrics such as an EV to EBITDA of -35.32 and an EV to Capital Employed of -0.71. These figures suggest significant operational inefficiencies and a lack of profitability.
When compared to peers, Clean Earth Acquisitions Corp. shows a stark contrast; for instance, Tenx Keane Acquisition has an EV to EBITDA of -2.5255, while International Media Acquisition Corp. has a far more negative EV to EBITDA of -66.7156, both indicating struggles within the sector. The company's stock performance has also been dismal, with a year-to-date return of -96.7%, significantly underperforming the S&P 500's gain of 2.44% in the same period. Overall, the financial ratios and peer comparisons reinforce the conclusion that Clean Earth Acquisitions Corp. is overvalued in its current state.