Is Vision Marine Technologies, Inc. overvalued or undervalued?

As of 14 July 2021, the valuation grade for Vision Marine Technologies, Inc. moved from does not qualify to risky, indicating increased uncertainty regarding its financial health. The company appears to be overvalued given its significant losses, reflected in a P/E ratio that is not applicable due to being loss-making, a Price to Book Value of 0.50, and an EV to EBITDA of 0.23. In comparison to peers, Sturm, Ruger & Co., Inc. has a fair P/E ratio of 141.55, while Marine Products Corp. is very attractive with a P/E of 27.02, highlighting the stark contrast in valuation metrics.
The company's stock has underperformed significantly against the S&P 500, with a year-to-date return of -90.88% compared to the S&P 500's 12.22%, and a one-year return of -97.33% versus the S&P 500's 17.14%. This stark underperformance reinforces the notion that Vision Marine Technologies, Inc. is overvalued in the current market environment.