Is Pineapple Energy, Inc. overvalued or undervalued?

As of 30 October 2020, the valuation grade for Pineapple Energy, Inc. moved from very attractive to risky, indicating a significant shift in its financial outlook. The company is currently considered overvalued given its troubling financial ratios, including a Price to Book Value of 0.38, an EV to EBITDA of -1.86, and a ROE of -84.24%. These figures suggest that the company is not generating adequate returns on equity and is facing substantial operational challenges.
In comparison to its peers, Pineapple Energy, Inc. stands out negatively, especially against MISTRAS Group, Inc., which has a P/E of 11.35 and an EV to EBITDA of 5.59, indicating a more favorable valuation and operational performance. Additionally, Orion Group Holdings, Inc. is categorized as expensive with a P/E of 116.94, further highlighting Pineapple's struggles. The company's recent stock performance has been dismal, with a year-to-date return of -99.70%, starkly contrasting with the S&P 500's positive return of 2.44% in the same period.