P/E Ratio of 500+

So I just learned that Celsius is a publicly traded company, it's largest shareholders being Blackrock, Vanguard, PepsiCo, etc, so I wanted to see how its performed the last few years. I haven't seen a large company with a P/E ratio over like 150 so I was surprised to see 510. I'm still learning the correlations with P/E ratios and EPS, does this mean the company is likely hugely overvalued? I'd really appreciate an explanation :) Their EPS is $0.42 USD as of their last earnings. Share Price: $54.39 USD P/E Ratio: 510 Market Cap: $14b USD Revenue: $725m USD They have been performing well