If Then Type Mismatch

Hello, I am working with this section of a macro and it keeps giving me the error "Type Mismatch".

 Dim time As Range
 Dim cell As Range
 Dim ws As Worksheet
 Set ws = Application.ActiveSheet
 Set time = ws.Range("h7:h40")
     For Each cell In time.Cells
         If cell.Value <= "00:05:00" Then 'This is the line that says there is a mismatch.
         Rows(ActiveCell.Row).Select
         Selection.Interior.ColorIndex = 1
    End If
Next

I am trying to see if the value in each of the cells in H7:H40 is less than 5 minutes. Anyone know what I'm doing wrong?