Raycast for mouseover isn't working

The sprite is a child of a rigidbody gameobject so I went with raycasting to detect when the mouse is over the trigger box of sprite. So far all I have are null references and that's about it, the loop won't start. I think it's something to do with the hit variable but I don't know how to fix it.

Here's the code:

void Update () { CurrentAlpha = SpriteRend.color; CheckForHover(); }

 private void CheckForHover ()
 {
     Ray ray = Camera.main.GetComponent<Camera>().ScreenPointToRay(Input.mousePosition);
     RaycastHit2D hit = Physics2D.Raycast(ray.origin, ray.direction, Mathf.Infinity);
     if (Hovered == false && hit.transform.gameObject == this.gameObject)
     {
         Debug.Log("Beep");
         Hovered = true;
         FadeIn();
     }
     if (Hovered == true && hit.transform.gameObject != this.gameObject)
     {
         Debug.Log("Boop");
         Hovered = false;
         Fadeout();
     }
 }

 private IEnumerator FadeIn ()
 {
     float ElapsedTime = 0.0f;
     float TotalTime = 10.0f;
     while (ElapsedTime < TotalTime)
     {
         ElapsedTime += Time.deltaTime;
         SpriteRend.color = Color.Lerp(CurrentAlpha, Visible, (ElapsedTime / TotalTime));
         yield return null;
     }
 }

 private IEnumerator Fadeout()
 {
     float ElapsedTime = 0.0f;
     float TotalTime = 10.0f;
     while (ElapsedTime < TotalTime)
     {
         ElapsedTime += Time.deltaTime;
         SpriteRend.color = Color.Lerp(CurrentAlpha, Invisible, (ElapsedTime / TotalTime));
         yield return null;
     }
 }