Is Owlet, Inc. overvalued or undervalued?

As of 16 August 2021, Owlet, Inc. moved from a grade of does not qualify to risky, indicating increased concerns regarding its valuation. The company appears to be overvalued given its negative P/E ratio of -11.83, a price to book value of -8.48, and an EV to EBITDA ratio of -13.85. Compared to peers, Turtle Beach Corp. has a fair valuation with a P/E of 18.60, while GoPro, Inc. is also risky with a P/E of -4.77, highlighting Owlet's relative weakness in valuation metrics.
Despite Owlet's strong recent performance, with a year-to-date return of 83.82% compared to the S&P 500's 12.22%, the overall financial ratios suggest that the stock is not justified at its current price levels. The negative returns over longer periods, such as -98.05% over the last five years, further reinforce the notion that Owlet, Inc. is overvalued in the current market environment.