Is Gevo, Inc. overvalued or undervalued?

As of 9 March 2023, the valuation grade for Gevo, Inc. has moved from does not qualify to risky, indicating a shift in perception regarding its financial health. The company appears to be overvalued given its negative performance metrics, including a Price to Book Value of 0.59, an EV to EBITDA of -6.45, and a Return on Equity (ROE) of -15.36%.
In comparison to its peers, Gevo's EV to EBITDA ratio of -16.7453 is significantly worse than Westlake Chemical Partners LP, which has a very attractive EV to EBITDA of 2.5012, and Mativ Holdings, Inc., which also carries a risky rating with an EV to EBITDA of 9.5426. Additionally, Gevo's stock has outperformed the S&P 500 over the past year, returning 39.33% compared to the S&P 500's 17.14%, but this does not mitigate its overall valuation concerns.