Is Nuvve Holding Corp. overvalued or undervalued?

As of 12 August 2020, Nuvve Holding Corp. has moved from a grade of "does not qualify" to "risky." The company is currently considered overvalued based on its financial metrics. Key ratios include a Price to Book Value of -1.37, an EV to EBIT of -0.46, and an EV to EBITDA of -0.47, all indicating significant financial distress.
In comparison to its peers, Nuvve's EV to EBITDA ratio of -0.8435 is notably worse than Servotronics, Inc. at 112.0099 and CBAK Energy Technology, Inc. at 16.0424, both of which also fall under the "risky" category. The company's negative return on capital employed (ROCE) of -1757.92% further underscores its precarious financial position. Given these factors, Nuvve Holding Corp. appears to be overvalued in the current market context.