Is Clean Energy Fuels Corp. overvalued or undervalued?

As of 9 March 2021, the valuation grade for Clean Energy Fuels Corp. moved from fair to risky, indicating a more cautious outlook. The company appears to be overvalued given its negative performance metrics, including a Price to Book Value of 0.67 and an EV to EBITDA ratio of 26.37, which suggests that the market is pricing the company at a premium despite its losses. Additionally, the ROCE stands at -12.12% and ROE at -21.01%, further highlighting the company's struggles.
In comparison to peers, Clean Energy Fuels Corp. has a significantly higher EV to EBITDA ratio than New Fortress Energy, Inc., which stands at 19.70, indicating that investors are paying much more for each unit of earnings before interest, taxes, depreciation, and amortization. The stock's recent performance shows a 1-week return of 6.32% compared to the S&P 500's 1.05%, but over the longer term, the company has underperformed, with a 3-year return of -57.23% against the S&P 500's 70.41%. This underperformance reinforces the notion that Clean Energy Fuels Corp. is overvalued in its current state.