Is Nuvve Holding Corp. overvalued or undervalued?

As of 12 August 2020, Nuvve Holding Corp. moved from a grade of does not qualify to risky. The company appears to be overvalued based on its current financial metrics. Key valuation 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 valuation ratios are less favorable; for instance, Ocean Power Technologies has an EV to EBITDA of -4.1982, and CBAK Energy Technology shows an EV to EBITDA of -14.5823, both of which are worse than Nuvve's. Given the lack of positive returns and the company's financial ratios, it is evident that Nuvve is struggling in the market. Although specific return data is not available, the overall context suggests that Nuvve has not performed well compared to broader market benchmarks like the S&P 500.