Is Ocean Power Technologies, Inc. overvalued or undervalued?

As of 9 March 2020, the valuation grade for Ocean Power Technologies, Inc. moved from does not qualify to risky, indicating a significant shift in its perceived investment quality. The company is currently considered overvalued, primarily due to its troubling financial ratios, including a Price to Book Value of 3.25, an EV to EBIT of -4.05, and an EV to EBITDA of -4.36, which highlight its ongoing losses and lack of profitability.
In comparison to its peers, Ocean Power Technologies has a notably worse EV to EBITDA ratio than Servotronics, Inc. at 112.0099 and CBAK Energy Technology, Inc. at 16.0424, both of which are also classified as risky. The company's recent stock performance has been poor, with a year-to-date return of -52.25%, contrasting sharply with the S&P 500's 2.44% return over the same period, further reinforcing the view that the stock is overvalued in its current state.