Is RxSight, Inc. overvalued or undervalued?

As of 10 November 2021, the valuation grade for RxSight, Inc. has moved from does not qualify to risky, indicating a significant shift in the company's financial outlook. The company appears to be overvalued based on its current metrics, particularly given its negative earnings and poor return ratios. The P/E ratio is not applicable due to the company being loss-making, while the Price to Book Value stands at 2.19, and the EV to Sales ratio is 2.58, which are relatively high for a company with such negative performance indicators.
In comparison to its peers, RxSight's EV to EBITDA is -11.40, while TTM Technologies, Inc. has a much higher EV to EBITDA of 12.6878, and Camtek Ltd. shows a more favorable EV to EBITDA of 27.7789. Additionally, RxSight's ROCE is at a troubling -72.23%, which starkly contrasts with the positive returns seen in its peers. Overall, given these ratios and the company's recent stock performance, which has significantly lagged behind the S&P 500, RxSight, Inc. is deemed overvalued.