Is Meta Materials, Inc. overvalued or undervalued?

As of 15 November 2021, the valuation grade for Meta Materials, Inc. has moved from does not qualify to risky, indicating a significant shift in the assessment of the company's financial health. Based on the current analysis, Meta Materials appears to be overvalued given its extreme negative ratios, including a P/E ratio of 0.00 and an EV to EBITDA of 0.04. The company's ROE stands at a staggering -191.81%, reflecting severe inefficiencies in generating returns on equity.
When compared to peers such as Aeva Technologies, Inc. with a P/E of -9.9038 and Ouster, Inc. at -10.7293, Meta Materials' ratios suggest it is not only underperforming but also carries a higher risk profile. The overall assessment indicates that the company is overvalued, especially considering its current price of 0.00 against a 52-week high of 3.45. The lack of returns data further complicates the valuation narrative, reinforcing the notion of caution for potential investors.