Yes, you can. In the Image Manager:
In the 'Show' field choose 'In the <source> album' where <source> is the album you are moving from. Then click select 'all'. Note: I find on a PC that if you have more than 30 images in the album you need to scroll down to display them all otherwise it only selects the first 30.
Click the 'Albums' button.
Select the destination album then check 'Add images to selected albums and remove from other albums.'
Then you can delete the, now empty, source album.
There may be other ways of doing it too, but this should work.