Is NuScale Power Corp. overvalued or undervalued?

As of 10 August 2022, NuScale Power Corp. has moved from a grade of "does not qualify" to "risky." The company is currently considered overvalued. Key ratios include a Price to Book Value of 13.88, a ROCE of -73.29%, and a ROE of -16.58%.
In comparison to its peers, NuScale's valuation is significantly less favorable; for instance, Microvast Holdings, Inc. has a P/E ratio of 120.82, while Steel Partners Holdings LP is deemed attractive with a P/E of 5.40. The company's recent stock performance has been impressive, with a year-to-date return of 103.57%, significantly outpacing the S&P 500's return of 2.44%. However, the underlying financial metrics suggest that the stock may not be justified at its current price level.