Is Connexa Sports Technologies, Inc. overvalued or undervalued?

As of 21 September 2020, the valuation grade for Connexa Sports Technologies, Inc. has moved from does not qualify to risky. The company is currently considered overvalued based on its financial metrics. Key ratios include a Price to Book Value of 0.49, an EV to Sales ratio of 1.59, and a negative ROCE of -23.94%.
In comparison to peers, Connexa's valuation stands out with a significantly negative EV to EBITDA of -1.60, while Karat Packaging, Inc. shows a much healthier P/E ratio of 17.07 and EV to EBITDA of 9.43, indicating a stark contrast in financial health. Additionally, Ranpak Holdings Corp. is also rated risky with a P/E of -18.06, further highlighting the challenges faced by Connexa. The company's stock has underperformed significantly, with a year-to-date return of -31.94%, compared to a modest 2.44% return for the S&P 500, reinforcing the notion of overvaluation.