Is Envirotech Vehicles, Inc. overvalued or undervalued?

As of 11 November 2021, the valuation grade for Envirotech Vehicles, Inc. has moved from does not qualify to risky. The company appears to be overvalued given its negative financial metrics, including a Price to Book Value of 0.56, an EV to EBIT of -1.17, and a ROE of -97.07%. These figures indicate significant losses and inefficiencies in generating returns for shareholders.
In comparison to its peers, Envirotech's P/E ratio is not applicable due to its loss-making status, while Cooper-Standard Holdings, Inc. has a P/E of -15.14, and Hyliion Holdings Corp. shows a P/E of -4.63, both reflecting similar challenges in the industry. Additionally, the company's year-to-date return of -86.08% starkly contrasts with the S&P 500's positive return of 2.44%, reinforcing the notion that Envirotech is not only struggling but also overvalued in the current market context.