Is Oxus Acquisition Corp. overvalued or undervalued?

As of 21 May 2024, the valuation grade for Oxus Acquisition Corp. has moved from does not qualify to risky, indicating a significant deterioration in its financial outlook. Based on the available metrics, the company appears to be overvalued, particularly given its negative valuation ratios. The Price to Book Value stands at -22.95, the EV to EBIT is at -8.67, and the EV to EBITDA is at -9.74, all of which suggest substantial financial distress.
In comparison to its peers, Oxus Acquisition Corp. has a P/E ratio of -3.3746, while Concord Acquisition Corp. III, also rated risky, has a P/E of -1.8318. This highlights that Oxus is performing worse than some of its direct competitors. Additionally, the company's stock has significantly underperformed against the S&P 500, with a year-to-date return of -57.24% compared to the index's gain of 12.22%. This further reinforces the notion that Oxus Acquisition Corp. is overvalued in its current state.