The acoustically actuated nanomechanical magnetoelectric (ME) antennas represent a promising new technology that can significantly reduce antenna size by 1-2 orders of magnitude compared to traditional antennas. However, current ME antennas face challenges such as low antenna gain and narrow operating bandwidth, limiting their engineering applications. In this paper, we enhance the bandwidth and radiation performance of ME antennas through structural optimization, leveraging theoretical analysis and numerical simulations. Our findings indicate that optimizing the inner diameter of the ring-shaped ME antenna can elevate the average stress of the magnetic layer, leading to improved radiation performance and bandwidth compared to circular ME antennas. We establish an optimization model for the radiation performance of the ME antenna and conduct shape optimization simulations using COMSOL Multiphysics. The results of the Multiphysics field optimization align with the stress concentration theory, demonstrating a strong correlation between the radiation performance and bandwidth of the ME antenna with the average stress of the magnetic film. The resonant frequency in the thickness vibration mode is determined to be 170 MHz. Furthermore, shape optimization can enhance the bandwidth by up to 104% compared to circular ME antenna structures of the same size.