The first report came from a woman who said she had a pellet strike the windscreen of her car.
She was then approached by a cyclist who said he had been shot in the hip, but police are yet to identify or locate that cyclist. He is asked to make contact with police.
Taupo police want anyone else with information relevant to this investigation to contact them on (07) 378 6060.
Information can also be provided anonymously to the organisation Crimestoppers on 0800 555111.
A 19-year-old Turangi man has been charged with assaulting a person with a firearm or airgun and will appear at Taupo District Court next Wednesday.