Is SKYX Platforms Corp. overvalued or undervalued?

As of 9 August 2023, the valuation grade for SKYX Platforms Corp. moved from does not qualify to risky. The company is currently overvalued based on its financial metrics. The Price to Book Value stands at 30.92, while the EV to Sales ratio is 1.64, and the EV to Capital Employed is 9.13, indicating a high valuation relative to its assets and sales.
In comparison to its peers, SKYX Platforms Corp. has a P/E ratio of -3.5933, while Solid Power, Inc. has a P/E of -7.7681, and Innoviz Technologies Ltd. has a P/E of -5.0077, all indicating a challenging financial position within the industry. Notably, despite the company's recent stock performance showing a 53.36% return over the past year compared to the S&P 500's 17.14%, the long-term outlook remains concerning, with a 3-year return of -61.76% versus the S&P 500's 70.41%.