Is Gevo, Inc. overvalued or undervalued?

As of 9 March 2023, Gevo, Inc. has moved from a valuation grade of "does not qualify" to "risky." The company is currently assessed as overvalued. Key ratios include a Price to Book Value of 0.59, an EV to EBITDA of -6.45, and a Return on Capital Employed (ROCE) of -13.71%.
In comparison to peers, Gevo's EV to EBITDA ratio of -6.45 is notably worse than Westlake Chemical Partners LP, which has a ratio of 2.49, and TETRA Technologies, Inc., at 6.89, both of which are considered very attractive. Additionally, Gevo's recent stock performance has been underwhelming, with a year-to-date return of -43.06%, contrasting sharply with the S&P 500's gain of 2.44% during the same period.