Very definitely. Many studies have shown a link between ankle sprain and a loss of ankle position sense. The joint's sense of movement and position is called proprioception. That wobble you're seeing may be a sign of postural instability, seen most often during landing from jumps.
Ankle sprains can leave the joint unable to accurately put the foot down before landing. She could be at increased risk for re-injury of that ankle.
There are ways to test for loss of joint proprioception and ankle instability. Talk to her coach or athletic trainer. They might be able to do a quick assessment and guide you in making a decision. An orthopedic surgeon or physical therapist can do more advanced testing if it's needed.