The violent disorder is believed to have taken place in Lowe Street, in the Whitmore Reans area, in the early hours of Thursday.
There were reports of gunshots being fired in the street just before 1.30am.
West Midlands Police officers say they know there was disorder between a number of people who were in several cars.
A 33-year-old man attended New Cross Hospital at around 9.20am with a gunshot injury to his arm – which is not thought to be serious.
Officers are currently holding five scenes for forensic examination as they try to understand more about what has happened.
It includes Lowe Street, Jackson Street, Manby Close, Durnstall Road and the part near the Avion Centre in Northam Walk.
Detective Inspector Chris Fox, from West Midlands Police's force CID, said: “We are in the very early stages of our investigation and are keen to learn more about what happened and who was involved.
“Violence like this on our streets is completely unacceptable and we are committed to finding those responsible.
"But I need your help. If you saw anything suspicious or have information please get in touch.”
Anyone with mobile or dash-cam footage, or any information is urged to call 101, quoting log number 237 of July 22.
Alternatively, call Crimestoppers anonymously on 0800 555111.