
The S&P/ASX Small Ords Index (ASX: XSO) is down 14% in the calendar year to date (YTD).
Meanwhile, the S&P/ASX All Ords Index (ASX: XAO) has edged 1% lower in 2026 so far.
Let’s check out some new buy recommendations from three experts on three ASX small-cap shares.
Challenger Gold Ltd (ASX: CEL)
The Challenger Gold share price is $1.46, down 1.9% today and down 51% over 12 months.Â
Challenger is developing the Hualilan gold project in Argentina.
Philippe Bui from Medallion Financial Group has a buy rating on this ASX small-cap mining share.
On The Bull this week, Bui said:Â
A 35,000 metre drilling program provides near term catalysts through resource growth and mine-plan optimisation. Management is targeting commercial production from this operation by early 2029.
We see potential for a re-rating as engineering, approvals and financing progresses. CEL is suitable for investors who are comfortable with higher risk.
Janus Electric Holdings Ltd (ASX: JNS)
The Janus Electric share price is 52 cents, down 2.8% today and up a staggering 420% over 12 months.
Janus is a heavy transport electrification company.
It converts diesel prime movers into electric vehicles using a patented zero-carbon battery-swap system in Australia and the US.
Tom Fairchild from Lazarus Capital Partners has a speculative buy call on this ASX small-cap utilities share.
He explained:
The macro case is compelling as Australia imports about 87 per cent of its diesel. Freight transportation uses almost half of the imported diesel. Electrifying trucks means owners don’t have to rely on imported diesel.
Conversions appeal in terms of fuel savings over the longer term and reduced emissions.
Revenue is growing, but the company reported a $9.1 million statutory loss after tax in full year 2026. However, the share price has risen from 14 cents on July 1 to trade at 69 cents on October 8.
The outlook appears prosperous, but a speculative buy at these levels.
Artrya Limited (ASX: AYA)
The Artrya share price is $3.10, up 1.6% today and up 9% over 12 months.
Artrya is a commercial-stage medical technology company.
Mark Gardner of MPC Markets has a buy rating on this ASX small-cap healthcare share.Â
Recently on The Bull, Gardner said:Â
Artrya is a commercial stage medical technology company, providing exposure to AI-led coronary imaging as the US commercial roll-out begins. The company’s Salix platform reads coronary CT scans and flags patients at risk of a heart attack.
The US Food and Drug Administration has cleared the Salix coronary plaque module.
The company is establishing a platform for recurring revenue growth, although revenue is relatively small at this stage. US foundation partners have converted to paying contracts.
The recent share price sell-off has created an appealing entry level prior to the next US hospital announcement.
The post 3 ASX small-cap shares to buy amid sector weakness: experts appeared first on The Motley Fool Australia.
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* Returns as of 1 August 2026
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Motley Fool contributor Bronwyn Allen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

