Is SKYX Platforms Corp. overvalued or undervalued?

As of 9 August 2023, the valuation grade for SKYX Platforms Corp. has moved from does not qualify to risky, indicating a shift in the perception of its financial health. The company is currently considered overvalued based on its financial ratios, with a Price to Book Value of 30.92 and an EV to Sales ratio of 1.64, which are significantly high given its loss-making status. Additionally, the negative ROCE of -196.58% and ROE of -830.93% highlight severe inefficiencies in generating returns for shareholders.
In comparison to its peers, SKYX Platforms Corp. has a P/E ratio of -3.52, while NuScale Power Corp. also carries a risky valuation with a P/E of -95.59. In contrast, American Superconductor Corp. is classified as fair with a P/E ratio of 103.45, showcasing a stark difference in valuation metrics among the companies in the sector. The recent performance of SKYX, with a 1-year return of 18.00% compared to the S&P 500's 10.26%, may suggest some investor optimism, but the underlying financial metrics indicate that the stock remains overvalued.