Is Greenidge Generation Holdings, Inc. overvalued or undervalued?

As of 13 May 2021, the valuation grade for Greenidge Generation Holdings, Inc. moved from expensive to risky. The company appears to be overvalued given its negative financial metrics, including a Price to Book Value of -0.40, an EV to EBIT ratio of -6.05, and an EV to EBITDA of 72.08. These figures indicate significant financial distress and a lack of profitability, which is further underscored by the company's negative return on capital employed and return on equity. In comparison to its peers, Greenidge's P/E ratio is notably worse at -1.0749, while Phunware, Inc. has a P/E of -5.4631 and BM Technologies, Inc. stands at -4.9733, both indicating similar risk profiles. The company's stock has underperformed significantly against the S&P 500, with a one-year return of -57.97% compared to the index's 10.26%. Overall, the combination of negative ratios and poor peer performance suggests that Greenidge Generation Holdings, Inc. is overvalued in the current market.