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, indicating a significant shift in its financial outlook. The company is currently overvalued, as evidenced by its P/E ratio being non-applicable due to losses, a Price to Book Value of -0.40, and an EV to EBITDA ratio of 72.08, which is considerably high compared to its peers.
In comparison to its industry, Greenidge's valuation ratios are starkly unfavorable; for instance, BM Technologies, Inc. has a P/E of -4.9733 and an EV to EBITDA of -10.5983, while Phunware, Inc. shows a P/E of -4.1678 and an EV to EBITDA of 3.2060. The company's stock has underperformed significantly over the long term, with a 5-year return of -99.04% compared to the S&P 500's 96.61%, reinforcing the notion that it is overvalued in the current market context.