Is FREYR Battery, Inc. overvalued or undervalued?

As of 17 March 2025, the valuation grade for FREYR Battery, Inc. has moved from does not qualify to risky, indicating a shift in perception regarding its investment potential. The company appears to be overvalued, particularly given its P/E ratio of -3.06 and an EV to EBITDA of -15.11, which are significantly worse than typical industry benchmarks.
In comparison to peers, FREYR Battery's valuation metrics are concerning; for instance, its P/E ratio is notably negative, while the industry average remains positive. Additionally, the company has a PEG ratio of 0.0, suggesting no growth expectations are priced in. Over the past year, FREYR Battery has outperformed the S&P 500 with a return of 70.64% compared to the index's 17.14%, but this is overshadowed by its poor long-term performance, including a staggering -86.38% return over three years.