Is Clean Earth Acquisitions Corp. overvalued or undervalued?

As of 10 May 2023, the valuation grade for Clean Earth Acquisitions Corp. moved from does not qualify to risky, indicating a shift towards a more cautious outlook. The company appears to be overvalued given its negative price-to-book value of -0.03 and an EV to EBITDA ratio of -35.32, which suggests significant operational challenges. Additionally, the EV to Sales ratio stands at 2.13, further highlighting the company's struggles in generating revenue relative to its enterprise value.
In comparison to peers, Clean Earth Acquisitions Corp. has a P/E ratio of -0.0426, while Metal Sky Star Acquisition Corp. shows a much higher P/E of 43.4710, indicating that the latter is significantly more valued by the market. Golden Arrow Merger Corp., also rated as risky, has a P/E of -0.3874, suggesting similar challenges in valuation. Notably, Clean Earth Acquisitions Corp. has experienced a staggering 77.03% decline over the past year, contrasting sharply with the S&P 500's 17.14% gain, underscoring its underperformance relative to the broader market.