Is Redwire Corp. overvalued or undervalued?

As of 9 August 2021, Redwire Corp. moved from a grade of does not qualify to risky. The company appears to be overvalued based on its valuation metrics, particularly with a Price to Book Value of -21.09 and an EV to EBITDA ratio of -61.64, indicating significant financial distress. Additionally, the EV to Sales ratio stands at 5.86, which is quite high for the aerospace and defense industry.
In comparison to its peers, Redwire Corp. has a P/E ratio of -6.90, while Triumph Group, Inc. shows a P/E of 29.88 and Astronics Corp. has a staggering P/E of 227.72, highlighting the relative overvaluation of Redwire. Furthermore, National Presto Industries, Inc. is categorized as attractive with a P/E of 18.88, reinforcing the notion that Redwire is not performing well in comparison to its industry peers. Notably, while Redwire has experienced a 26.94% return over the past year, this outperformance is overshadowed by a year-to-date decline of 51.34%, contrasting sharply with the S&P 500's 12.22% gain during the same period.