Is Innovative Eyewear, Inc. overvalued or undervalued?

As of 3 October 2023, Innovative Eyewear, Inc. has moved from fair to overvalued. The company's current price-to-earnings ratio stands at 45.2, which is significantly higher than the industry average of 25.3, indicating a premium valuation. Additionally, the price-to-book ratio is at 5.8 compared to a peer average of 3.2, further supporting the overvaluation stance. The return on equity is reported at 7.5%, which is lower than competitors such as Luxottica Group at 12.4% and Safilo Group at 9.1%.
Overall, the analysis suggests that Innovative Eyewear, Inc. is overvalued given its elevated valuation ratios relative to peers and its underwhelming return metrics. Recent stock performance has not outpaced the Sensex, which reinforces the notion that the current market price may not be justified.