Is indie Semiconductor, Inc. overvalued or undervalued?

As of 9 February 2021, the valuation grade for indie Semiconductor, Inc. moved from does not qualify to risky, indicating a shift in perception regarding its financial health. The company appears to be overvalued based on its current metrics, particularly with a Price to Book Value of 1.52 and an EV to Sales ratio of 3.43, which are relatively high given the negative performance indicators. Additionally, the EV to EBITDA ratio stands at -6.71, reflecting significant operational challenges.
In comparison to peers, indie Semiconductor, Inc. has a worse EV to EBITDA ratio than Canadian Solar, Inc., which is at 10.8902, highlighting its struggles in generating earnings before interest, taxes, depreciation, and amortization. Furthermore, the company's return performance has been notably poor, with a 3-year return of -53.95% compared to the S&P 500's 70.41%, reinforcing the notion that the stock is not performing well relative to the broader market.