Is Dyadic International, Inc. overvalued or undervalued?

As of 27 March 2019, Dyadic International, Inc. has moved from a grade of "does not qualify" to "risky." The company is currently overvalued, given its significant negative financial ratios, including a price-to-book value of 41.92 and an EV to EBITDA of -6.89. The return on equity (ROE) stands at an alarming -582.71%, indicating severe financial distress.
In comparison to its peers, Dyadic's valuation metrics are concerning; for instance, GeneDx Holdings Corp. has a P/E ratio of -63.58, while Nutex Health, Inc. is classified as very attractive with a P/E of 4.26. The overall performance of Dyadic International has been poor, with a year-to-date stock return of -46.40%, contrasting sharply with the S&P 500's positive return of 2.44% during the same period. This further reinforces the conclusion that Dyadic International is currently overvalued.