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Janus Electric Holdings Ltd ASX:JNS

1 opened or increased1 held1 reduced or exitedlatest position by manager, past 12 months90 days: 2 increased, 1 reduced. 3 managers in total.

Position history by manager 3 managersSelect a point to see the comment

Opened or increasedHeldReduced or exited Start or end of the position not reported

2026

31 May 2025 to today

Commentary Showing 2 of 8

DateManagerActionSummary

30 Sep 2026DMX Asset ManagementInitiatedDMX Asset Management initiated a position in Janus Electric (ASX:JNS), which rose 62% in September 2026 as higher diesel prices drew investor interest and the company scaled its operations. DMX notes that Janus has developed its diesel-to-electric truck conversion capability since 2019, and its model combining retrofits, battery swap, charging infrastructure and a SaaS operating system is unique for Class 6–8 trucks, with no direct global competitor outside China. New CEO Ben Hutt, who succeeded founder Lex Forsyth, targets 650 trucks and around $300m revenue in FY28, while brokers forecast $160m revenue and $12m NPAT. Converting just 2,000 of an estimated 8 million-plus heavy diesel trucks could generate about $1b in cumulative revenue. DMX believes rising diesel prices and government support for truck electrification position Janus to become a significant global player.

Monthly Report, price recorded $0.86

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30 Sep 2026Cyan Investment ManagementReducedCyan Investment Management reduced its position in Janus Electric Holdings by managing the holding into share price strength after the stock rose 62.3% in September 2026, while retaining exposure to what it sees as a potentially significant growth opportunity. Investor interest in Janus's battery-swapping technology for heavy trucks continued to build following significant commercial progress, particularly in North America, where Janus has secured substantial orders from fleet operators. Cyan describes the investment case as catalyst-rich, with investors now seeking evidence that the order book converts into truck deployments, higher battery-swap volumes and recurring revenues from the broader Janus ecosystem.

Recurring RevenueMonthly Report, price recorded $0.86

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6 more comments on JNSPro shows every comment, with a link to each source document.

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First mention by manager

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Price at first mentionThe share price recorded when each of 3 managers first commented on JNS.

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Articles

30 Sep 2026Janus Electric Surged 250%+ on Two US Truck Decarbonisation Contracts

About Janus Electric Holdings Ltd

Industrials, Independent Power and Renewable Electricity Producers

Janus Electric (ASX:JNS), a heavy truck electrification company, surged on major contract wins. In August 2026, Cyan named Janus Electric its fund's standout performer, driven by renewed investor interest after contract wins, while DMX said its relatively new, small position contributed positively. In July 2026, Cyan reported Janus rose 110% after winning two major contracts, and NorthStar described it as a key heavy-duty transport decarbonisation solution with multiple catalysts. Janus Electric operates in the Utilities sector within the Independent Power and Renewable Electricity Producers industry, and Thesis Tracker has captured 6 comments from 3 fund managers, Cyan, DMX and NorthStar. Headquartered in Sydney, Janus Electric converts diesel prime mover trucks to electric power and operates a battery swap network, allowing heavy transport operators to exchange batteries quickly, reducing fuel costs and emissions for the trucking industry in Australia.

Market cap: $81m
Price to earnings: Loss-making
Return on equity: -246.3%
Dividend yield: 0.0%
Price to book: 31.97x
Net margin: -189.1%
52-week range: $0.05 to $0.90

Company figures as of 15 Oct 2026. For information only.

Questions

Who is investing in Janus Electric Holdings Ltd (ASX:JNS)?

Fund managers including NorthStar Impact Funds, Cyan Investment Management and DMX Asset Management have invested in Janus Electric Holdings Ltd (ASX:JNS).

What opportunities or catalysts do fund managers highlight for Janus Electric Holdings Ltd?

Managers highlight major contract wins, a battery-swap model that addresses heavy transport decarbonisation and strong investor interest, according to Cyan, DMX and NorthStar.

What are the key risks to the Janus Electric Holdings Ltd investment thesis, according to fund managers?

The available commentary is positive, though Janus is a small company that must scale its conversion and battery swap network profitably.

What does Janus Electric Holdings Ltd (ASX:JNS) do?

Janus Electric Holdings Ltd. identifies and develops green hydrogen projects and invests in renewable and clean energy technologies. The company operates through three segments: Hydrogen, Renewable and Clean Energy Investments, and Corporate. Founded by Lambertus de Graaf in November 2000, Janus Electric Holdings Ltd. is headquartered in Milton, Australia.

General information only. Thesis Tracker reports what named fund managers have published about ASX companies. It does not take into account your objectives, financial situation or needs, and is not financial product advice or a recommendation to buy, sell or hold any security.

11,356 comments from 164 managers on 761 companies, snapshot 15 Oct 2026.

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