Is Fluent, Inc. overvalued or undervalued?

As of 10 May 2021, Fluent, Inc. has moved from a very attractive to a risky valuation grade, indicating a significant deterioration in its financial outlook. The company is currently considered overvalued given its negative performance metrics, including a Price to Book Value of 2.18, an EV to EBITDA of -6.22, and a ROE of -115.39%. These ratios highlight the company's struggles, particularly in generating returns and profitability.
In comparison to its peers, Fluent, Inc. stands out unfavorably; for instance, Iris Energy Ltd. has a P/E of -67.14 and TeraWulf, Inc. has a P/E of -12.57, both indicating their own challenges, yet they maintain a more favorable EV to EBITDA ratio than Fluent. The company's recent stock performance has been poor, with a year-to-date return of -25.40%, contrasting sharply with the S&P 500's 2.44% gain, reinforcing the notion that Fluent, Inc. is currently overvalued in the market.