Is Palladyne AI Corp. overvalued or undervalued?

As of 16 August 2021, Palladyne AI Corp. has moved from a valuation grade of "does not qualify" to "risky." The company is currently overvalued given its financial metrics, particularly with a Price to Book Value of 12.10 and a staggering ROE of -89.99%. The EV to Sales ratio stands at 49.02, indicating a high valuation relative to its revenue generation capabilities.
In comparison to its peers, Palladyne AI Corp. has a P/E ratio of -12.0331, which is worse than KULR Technology Group, Inc. at -11.1441 and Rapid Micro Biosystems, Inc. at -3.3928. This suggests that Palladyne is struggling more than its peers in terms of profitability. Additionally, the company's recent stock performance shows a significant decline of 32.27% year-to-date, contrasting sharply with the S&P 500's modest gain of 2.44% in the same period, reinforcing the notion that Palladyne AI Corp. is overvalued.