Is Connexa Sports Technologies, Inc. overvalued or undervalued?

As of 21 September 2020, the valuation grade for Connexa Sports Technologies, Inc. moved from does not qualify to risky, indicating a deterioration in its financial standing. The company appears to be overvalued given its significant losses, as evidenced by a P/E ratio that is not applicable due to its loss-making status, a Price to Book Value of 0.49, and an EV to EBITDA ratio of -1.60.
In comparison to its peers, Karat Packaging, Inc. has a P/E ratio of 15.53, showcasing a stark contrast in valuation metrics, while Ranpak Holdings Corp. also reflects a risky profile with a P/E of -11.72. Connexa's recent stock performance has been notably poor, with a 1Y return of -68.10% compared to the S&P 500's 17.14%, reinforcing the notion that the stock is overvalued in its current state.