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    Jeff Grampp

    Managing Director and Senior Research Analyst at Northland Securities, Inc.

    Jeff Grampp is a Managing Director and Senior Research Analyst at Northland Securities, Inc., specializing in coverage across the energy, power, and sustainability sectors. He covers companies including Flotek Industries, Tamboran Resources, Hallador Energy, Vitesse Energy, Drilling Tools International, and Electrovaya, and has achieved a 52.94% success rate with an average return of 20.31% as tracked over 22 ratings. Grampp began his career as a lead analyst at a family office, later joining Gateway Group and Alliance Global Partners before returning to Northland in 2025, where he had previously worked from 2013 to 2021. He holds an MBA and bachelor's degree from Chapman University, is a CFA charterholder, and maintains FINRA SIE and Series 7 licenses.

    Jeff Grampp's questions to Nano Nuclear Energy (NNE) leadership

    Jeff Grampp's questions to Nano Nuclear Energy (NNE) leadership • Q3 2025

    Question

    Jeff Grampp of Northland Securities, Inc. inquired about Nanonuclear's progress and timeline for re-engaging in the Canadian licensing process for its Cronos microreactor, and also asked for details on the commercialization strategy for its ALIP pump technology.

    Answer

    CEO James Walker detailed a three-part strategy for Canada, involving finalizing legal control of the project entity, securing land at Chalk River with Canadian Nuclear Laboratories (CNL), and engaging with the Canadian government's Strategic Innovation Fund (SIFF). For the ALIP technology, he explained the goal is to complete the SBIR Phase 3 process to become a default government contractor, with commercial opportunities in both advanced fission and fusion reactors. Founder, Executive Chairman & President Jay Jiang Yu added that a Canadian presence establishes Nanonuclear as a key North American provider.

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    Jeff Grampp's questions to HALLADOR ENERGY (HNRG) leadership

    Jeff Grampp's questions to HALLADOR ENERGY (HNRG) leadership • Q2 2025

    Question

    Jeff Grampp from Northland Capital Markets asked for an update on the potential terms for a large-scale PPA, questioning if the terms have improved given the strengthening market dynamics. He also inquired about the company's strategy and current activity level regarding the acquisition of additional generation assets.

    Answer

    President, CEO & Chairman, Brent Bilsland responded that while the energy price curve has softened slightly, capacity markets have become much stronger. He highlighted that utilities are now significantly more aggressive and willing to commit to longer-term deals than a year ago. Regarding acquisitions, Bilsland confirmed that Hallador is actively engaged in conversations and is positioning itself to acquire additional assets, particularly coal-fired plants, which they see as a niche where they can create significant shareholder value.

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    Jeff Grampp's questions to HALLADOR ENERGY (HNRG) leadership • Q2 2025

    Question

    Jeff Grampp from Northland Capital Markets asked for an update on the potential terms for a large-scale PPA, questioning if the strengthening market has improved the outlook. He also inquired about the company's current activity and strategy regarding potential acquisitions.

    Answer

    President & CEO Brent Bilsland confirmed that while the power curve has softened slightly, capacity markets are much stronger, and interest from utilities has become more aggressive. Regarding M&A, he stated Hallador is actively having conversations and positioning itself to acquire coal-fired assets, which it views as a core niche for creating shareholder value.

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    Jeff Grampp's questions to HALLADOR ENERGY (HNRG) leadership • Q2 2025

    Question

    Jeff Grampp inquired about the potential terms for a large-scale PPA, asking for the company's conviction level on achieving favorable terms given market changes. He also asked about the company's M&A strategy and the current stage of their acquisition activities.

    Answer

    President and CEO Brent Bilsland responded that while the energy curve has softened, capacity markets have strengthened significantly, and utilities are now more aggressive and willing to sign longer-term deals. Regarding M&A, Bilsland confirmed they are in active conversations and have increased their communication on the topic to attract potential sellers, as they see value in acquiring additional coal-fired assets.

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    Jeff Grampp's questions to HALLADOR ENERGY (HNRG) leadership • Q2 2025

    Question

    Jeff Grampp from Northland Capital Markets asked if the terms for a large-scale PPA have become more favorable given strengthening market dynamics. He also inquired about the company's acquisition strategy, specifically asking how actively they are pursuing deals for additional generation assets.

    Answer

    President and CEO Brent Bilsland responded that while the energy price curve has slightly dropped, capacity markets have become much stronger. He noted that utilities are now more aggressive and willing to enter longer-term deals. Regarding acquisitions, Bilsland confirmed Hallador is in active conversations and is being more communicative to attract potential sellers, as they see significant value in acquiring coal-fired assets.

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    Jeff Grampp's questions to FLOTEK INDUSTRIES INC/CN/ (FTK) leadership

    Jeff Grampp's questions to FLOTEK INDUSTRIES INC/CN/ (FTK) leadership • Q2 2025

    Question

    Jeff Grampp of Northland Securities, Inc. inquired about the progress of contracting new PowerTech units to third-party customers, the customer and geographic traction for the custody transfer business, and the sustainability of the high gross margins seen in the PowerTech assets.

    Answer

    CEO Ryan Ezell confirmed solid traction with five new pilot customers for PowerTech and noted the first smart filtration skid would be deployed in Q3 2025. For custody transfer, he stated nine locations are now commercial with a major E&P partner across all major US basins, with more converting soon. CFO Bond Clement addressed margins, stating that while the initial 90% was for a partial quarter, an 80-90% range is a reasonable forward-looking assumption.

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    Jeff Grampp's questions to Vitesse Energy (VTS) leadership

    Jeff Grampp's questions to Vitesse Energy (VTS) leadership • Q2 2025

    Question

    Jeff Grampp of Northland Securities, Inc. inquired about Vitesse's production outlook for the second half of 2025, noting that maintained full-year guidance implies a decline after a strong Q2. He also asked for an update on the acquisition pipeline for both smaller 'ground game' deals and larger transactions.

    Answer

    President Brian Cree explained that while Q2 production was strong, some of it was due to wells coming online earlier than anticipated. He noted encouraging AFE activity but confirmed the company is maintaining its full-year guidance based on current visibility. CFO Jimmy Henderson added that while the near-term development pipeline is robust, potential deals have not met the company's strict return hurdles. He affirmed that Vitesse continues to scrutinize larger deals and is cautiously optimistic about finding an opportunity.

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    Jeff Grampp's questions to Vitesse Energy (VTS) leadership • Q2 2025

    Question

    Jeff Grampp of Northland Capital Markets inquired about Vitesse's production outlook for the second half of 2025, noting the strong Q2 performance against maintained full-year guidance. He also asked for an update on the acquisition pipeline for both smaller 'ground game' deals and larger asset transactions.

    Answer

    President Brian Cree explained that while Q2 production was strong due to some wells coming online earlier than expected and AFE activity is encouraging, the company is maintaining its full-year guidance based on current visibility. CFO Jimmy Henderson added that while the deal pipeline is robust, potential near-term development deals have not met their strict return hurdles. He confirmed Vitesse continues to scrutinize larger deals and is cautiously optimistic one will reach the finish line.

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    Jeff Grampp's questions to Vitesse Energy (VTS) leadership • Q2 2025

    Question

    Jeff Grampp of Northland Securities, Inc. questioned Vitesse's production outlook, noting that strong Q2 results contrasted with maintained full-year guidance, which implies a second-half decline. He also requested an update on the acquisition pipeline for both smaller 'ground game' deals and larger transactions, observing that deal flow appeared slower recently.

    Answer

    President Brian Cree explained that while Q2 production was strong, some wells came online earlier than anticipated. He noted encouraging AFE activity but affirmed the decision to maintain guidance based on current visibility. CFO Jimmy Henderson addressed acquisitions, stating that while the pipeline is robust, potential deals have not met the company's strict return hurdles. He confirmed Vitesse continues to analyze larger opportunities but remains disciplined.

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    Jeff Grampp's questions to Vitesse Energy (VTS) leadership • Q2 2025

    Question

    Jeff Grampp from Northland Securities, Inc. inquired about Vitesse's production outlook for the second half of 2025, noting that the maintained full-year guidance implies a decline after a strong Q2. He also asked for an update on the acquisition pipeline for both smaller 'ground game' deals and larger asset transactions.

    Answer

    President Brian Cree explained that while Q2 production was strong due to some wells coming online earlier than expected and encouraging AFE activity, the company is maintaining its full-year guidance based on current visibility. CFO James Henderson added that on the acquisitions front, while deal flow is robust, potential near-term development deals have not met the company's strict return hurdles. He confirmed Vitesse continues to scrutinize larger deals and is cautiously optimistic one will reach the finish line.

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    Jeff Grampp's questions to PHX leadership

    Jeff Grampp's questions to PHX leadership • Q1 2024

    Question

    Questioned the prevalence of completed but shut-in wells on PHX's acreage and inquired about the Q1 acquisition pace relative to expectations for the year.

    Answer

    Management has not seen material deferrals of completed wells on their assets, noting that the private operators they are exposed to are still bringing wells online. Regarding acquisitions, the current conservative approach of paying down debt and building liquidity is consistent with their behavior in last year's low-price environment. They are not chasing deals but will be ready to act when the market improves.

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    Jeff Grampp's questions to Fusion Fuel Green (HTOO) leadership

    Jeff Grampp's questions to Fusion Fuel Green (HTOO) leadership • Q4 2023

    Question

    Jeff Grampp of Alliance Global Partners inquired about the company's gross margin expectations for 2024.

    Answer

    CFO Gavin Jones explained that for 2024, Fusion Fuel expects gross margins to be in the region of 15% for projects that include the HEVO Chain product, balance of plant equipment, and EPC services. Jones added that the company anticipates this average will increase to closer to the 20% mark in 2025, primarily as production volumes increase within their Benavente facility.

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    Jeff Grampp's questions to Fusion Fuel Green (HTOO) leadership • Q4 2023

    Question

    Jeff Grampp from Alliance Global Partners inquired about the company's gross margin expectations for the 2024 fiscal year.

    Answer

    CFO Gavin Jones stated that for 2024, Fusion Fuel expects gross margins to be around 15% for projects that include the HEVO Chain product, balance of plant equipment, and EPC services. Jones added that this average is projected to increase towards 20% in 2025, primarily due to increased production volumes at their Benavente facility.

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    Jeff Grampp's questions to Fusion Fuel Green (HTOO) leadership • Q4 2023

    Question

    Jeff Grampp from Alliance Global Partners inquired about the company's gross margin expectations for 2024 and the primary risks to achieving its annual revenue guidance.

    Answer

    CFO Gavin Jones explained that Fusion Fuel anticipates gross margins of approximately 15% in 2024 for projects including its HEVO Chain product, balance of plant equipment, and EPC services. He projects this margin will increase toward 20% in 2025 as production volumes scale. Jones identified project timing—from tender to contract execution—as the biggest risk to revenue guidance, but noted that a strong pipeline and prudent forecasting should help offset potential delays.

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    Jeff Grampp's questions to Fusion Fuel Green (HTOO) leadership • Q4 2023

    Question

    Jeff Grampp of Alliance Global Partners inquired about the company's gross margin expectations for 2024.

    Answer

    CFO Gavin Jones stated that for 2024, Fusion Fuel expects gross margins to be in the region of 15% for projects that include the HEVO Chain product, balance of plant equipment, and EPC services. He added that this average is forecasted to increase closer to the 20% mark in 2025, particularly as production volumes increase at the Benavente facility.

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    Jeff Grampp's questions to PEGY leadership

    Jeff Grampp's questions to PEGY leadership • Q3 2023

    Question

    Asked about the potential for further gross margin expansion given equipment cost tailwinds and sought an update on the M&A environment, including whether private company valuation expectations have adjusted to current market realities.

    Answer

    The company believes there is still room to manage costs down but is carefully balancing high margins against competitive pricing to potentially drive volume. On M&A, they are actively pursuing deals in what they see as a favorable buyer's market with adjusted valuation expectations, and they plan to use debt for financing rather than dilutive stock issuance.

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