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 deterioration in its investment profile. The company appears to be overvalued given its negative financial metrics, including a Price to Book Value of 2.19, an EV to Sales ratio of 2.58, and an EV to EBITDA of -11.40. Comparatively, Methode Electronics, Inc. has a more favorable EV to EBITDA of 13.0540, highlighting RxSight's relative weakness in valuation.
The company’s recent stock performance has been poor, with a year-to-date return of -72.4% compared to the S&P 500's positive return of 12.22%. This stark contrast reinforces the notion that RxSight, Inc. is currently overvalued in the market.