Is Eyenovia, Inc. overvalued or undervalued?

As of 30 March 2023, Eyenovia, Inc. has moved from a valuation grade of risky to does not qualify. The company is currently considered overvalued, particularly given its negative financial metrics. Key ratios include a price-to-book value of -1.45, an EV to EBIT of -0.75, and an EV to EBITDA of -0.78, all indicating significant financial distress.
In comparison to its peers, Eyenovia's EV to EBITDA ratio of -0.75 is notably higher than G1 Therapeutics, Inc. at -9.6487 and ADC Therapeutics SA at -4.8904, both of which are classified as risky. The stark contrast in valuation metrics suggests that Eyenovia is not only struggling financially but also lacks the fundamentals to justify its current price of 5.48. Additionally, the company's recent stock performance has been poor, with a year-to-date return of -53.08%, significantly underperforming the S&P 500's 2.44% return.