Is Healthcare Triangle, Inc. overvalued or undervalued?

As of 23 November 2021, Healthcare Triangle, Inc. moved from a grade of does not qualify to risky, indicating increased concerns about its valuation. The company appears to be overvalued given its negative financial metrics, including a Price to Book Value of 0.31, an EV to EBIT of 0.71, and an EV to EBITDA of 0.87. In comparison to peers, Healthcare Triangle's valuation ratios are significantly worse; for instance, Cheche Group, Inc. has a P/E of -9.59 while NetSol Technologies, Inc. boasts a P/E of 39.42, highlighting the disparity in performance and valuation.
The company's stock has underperformed dramatically, with a year-to-date return of -98.94% compared to the S&P 500's positive return of 12.22%, reinforcing the notion that Healthcare Triangle is overvalued in its current state.