Is Stryve Foods, Inc. overvalued or undervalued?

As of 15 November 2021, Stryve Foods, Inc. has moved from a grade of "does not qualify" to "risky." The company is currently considered overvalued based on its financial metrics. Key ratios include a Price to Book Value of -0.28, an EV to EBITDA of -1.93, and a Return on Capital Employed (ROCE) of -117.71%.
In comparison to its peers, Stryve Foods shows a stark contrast; for instance, Whole Earth Brands, Inc. has a P/E ratio of -12.37 and an EV to EBITDA of 11.36, while Bridgford Foods Corp. has a P/E of -9.39 and an EV to EBITDA of -27.28. The significant negative returns of Stryve Foods, with a year-to-date decline of 62.62% compared to a 2.44% increase in the S&P 500, further reinforces the notion that the company is overvalued in its current state.