Is NextNav, Inc. overvalued or undervalued?

As of 12 May 2022, the valuation grade for NextNav, Inc. moved from does not qualify to risky, indicating a shift towards a more cautious outlook. The company appears overvalued given its high Price to Book Value of 238.89, a negative EV to EBITDA of -28.75, and a staggering ROE of -1155.20%. In comparison, peers such as Planet Labs PBC show a more severe risk with an EV to EBITDA of -70.2776, while Karooooo Ltd. is in a more attractive position with a P/E of 30.1209.
NextNav, Inc. has demonstrated strong stock performance relative to the S&P 500, with a 1-year return of 129.54% compared to the index's 17.14%, and a remarkable 3-year return of 518.93% against 70.41% for the S&P 500. However, the company's negative financial metrics suggest that this high stock return may not be sustainable, reinforcing the conclusion that it is currently overvalued.